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Tax Summary
- Missouri has ten separate tax brackets between 1.5% to 6% depending upon income level.
- Personal exemption for a single individual is $2,100. Exemption for a married couple is $4,200. Dependents earn an exemption of $2,100 each.
- A federal tax deduction is allowed up to $10,000 for joint returns and $5,000 for individuals.
- There is a pension exemption of up to $6,000 depending upon the pension income.
- State sales tax is 4.225%, plus whatever local taxes are levied by cities and counties.
- Property taxes are levied by local governments based on assessed value and scheduled local tax rates plus a three percent state tax rate (per $100 valuation).
- There is a tax credit for some senior citizens and 100% disabled individuals for a portion of real estate taxes. The maximum credit available is $750.
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