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Legislative panel hears tax-change ideas

Legislative panel hears tax-change ideas

February 1st, 2013 in News

The state of Kansas was mentioned a lot Thursday morning, during a nearly two-hour Missouri Senate committee hearing on state tax policies.

Kansas last year eliminated most corporations' income taxes, and dropped the individual income tax rate to 4.9 percent.

Some state political leaders say Missouri must make changes similar, because Missouri's income tax rate is 6 percent.

"We urge that the Legislature must do something," said Woody Cozad, a Kansas City lawyer and registered lobbyist. He is the spokesman for the group "Save Missouri Jobs," which is concerned the Kansas changes will attract too many Missouri businesses across the state line.

But Kansas' tax changes also have created a problem, cutting a substantial hole in their budget.