| TAX |
MISSOURI |
ILLINOIS |
| Corporate
Income Tax |
6.25%
of Missouri taxable income, with adjustments including deductibility
of 50% of federal income
tax. |
7.3%,
which includes 4.8% state
income tax and 2.5% personal
property replacement tax. |
| Taxable
Income |
Base
of Federal taxable income adjusted for Missouri modifications.
Three-factor or sales only, whichever results in lower taxes.
|
Base
of Federal taxable income (line 28) adjusted for Illinois
modifications. Apportion-ment of income by in state sales
only. |
| Franchise
Tax |
0.033%
of par value of outstanding shares and surplus or total assets
in excess of $1,000,000. |
Initial
franchise tax of 0.15%
of paid-in capital, thereafter annual franchise tax of 0.1%
of paid-in capital, maximum of $2
million. |
| Property
Tax |
Residential
property assessed at 19%
of true or fair market value; commercial and industrial property
assessed at 32%; personal
property at 33-1/3%. Business
inventories are not taxed. |
Real
property is assessed at 33-1/3%
of market value. Personal property is not taxed. Business
inventories are not taxed. |
| Sales
& Use tax |
4.225%
of purchase price of tangible personal property and enumerated
services. Local sales taxes also apply and vary by jurisdiction.
|
6.25%
of purchase price of tangible personal property and selected
services. 1% tax on qualifying
food, drugs, and medical appliances. Local sales taxes also
apply and vary by jurisdiction. |
|
Personal Income Tax |
$315
plus 6% of federal adjusted
gross income over $9,000. |
3%
of federal adjusted gross income. |
| Local
Income Tax |
St. Louis
City residents and workers pay a 1%
earnings tax. St. Louis City employers pay a payroll tax of
0.5%. |
No local
earnings taxes |
