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New year brings lower tax rates in Missouri

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The new year brings with it lower tax rates in Missouri that were approved by lawmakers in 2022.

The state’s top marginal individual income tax rate is reducing to 4.95% from 5.3%.

The amount of income that is exempt from Missouri’s individual income tax rates has increased to $1,000 from $100.

Read more from the St. Louis Post-Dispatch.

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