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Missouri residents could see a roughly $138 million tax break under legislation passed Thursday by the House in an attempt to offset a recent surge in local tax collections caused by higher ...
Many taxpayers associate the concept of “property tax” with the amount you have to pay based on the value of your home. But in Kansas and Missouri, possessions like vehicles, machinery, and ...
Personal property tax is calculated based on what you owned on Jan. 1 of a given year. That means that if you bought a car or moved to Missouri with your car on Jan. 2 or later, you won’t have ...
The Missouri Department of Revenue administers and collects the income and sales taxes, including local sales taxes, whereas property taxes are entirely administered by local jurisdictions. In addition to the aforementioned taxes, excise taxes are imposed on cigarettes and tobacco products, motor vehicle leases, and locally administered income ...
The Missouri Department of Revenue is a U.S. state government agency in Missouri created under the Missouri Constitution in 1945, which is responsible for ensuring the proper functioning of state and local government through the collection and distribution of state revenue, and administration of state laws governing driver licensing, and motor vehicle sale and registration. [1]
The largest property tax exemption is the exemption for registered non-profit organizations; all 50 states fully exempt these organizations from state and local property taxes with a 2009 study estimating the exemption's forgone tax revenues range from $17–32 billion per year.
This data is collected by the United States Census Bureau for state governments during fiscal year 2015. These statistics include tax collections for state governments only; they do not include tax collections from local governments.
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