SB 393 - This act phases out the corporate income tax over a period of two years. For the tax year beginning on or after January 1, 2022, and ending on or before December 31, 2022, the rate of tax on corporate income shall be reduced from 4% to 2%. For all tax years beginning on or after January 1, 2023, there shall be no tax on corporate income.

This act is identical to HB 2239 (2020).

JOSH NORBERG

Statutes affected:
Introduced (0586S.01): 143.071

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Senate Committee Minutes:
SENATE COMMITTEE MINUTES Bill No.: SB 393
Sponsor: Moon
Hearing Date: 4/1/2021


COMMITTEE: Ways and Means

CHAIRMAN: Koenig

DATE REFERRED: 2/11/2021 DATE HEARING REQUESTED: 2/23/2021



STAFF:
Rob Krosley
Josh Norberg
Daniel Wilhelm


WITNESSES GIVING INFORMATION:



WITNESSES FOR:
Ray McCarty - Associated Industries of Missouri
Arnie Dienoff


WITNESSES AGAINST:
Scott Kimble - Missouri Association of School Administrators
Jeremy LaFaver - Missouri Budget Project
Jim Moody - The Civic Council of Greater Kansas City