Senator proposes constitutionally backed endowment to replace state taxes over decades Sen. Adam Schnelting presented SJR 95 to create a 'Show Me Prosperity Fund,' a constitutionally authorized endowment overseen by the state treasurer that would be seeded by a one-time appropriation and could, proponents say, generate earnings sufficient over generations to replace state-imposed taxes; lawmakers pressed for specifics on appropriation size, permissible investments and safeguards.

Senator Adam Schnelting's bold proposal for the "Show Me Prosperity Fund" could reshape Missouri's tax landscape by potentially replacing state taxes with a constitutionally backed endowment.

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Committee passes HB 2,945 after debate over capital‑gains redefinition and missing fiscal estimate The Special Committee on Tax Reform voted to 'do pass' House Bill 2,945 (5–3) after debate over language that redefines capital gains and concern that the committee lacked a full fiscal estimate of the redefinition’s impact.

A contentious debate erupts as Missouri's Special Committee on Tax Reform votes to redefine capital gains, raising eyebrows over the potential fiscal impact of House Bill 2,945.

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Committee adopts amendment to set vehicle depreciation starting point at 85% of MSRP; substitute for HB 3,035 passes The Special Committee on Tax Reform adopted a committee amendment to House Bill 3,035 that sets vehicles’ starting assessed value at 85% of MSRP, then applies the bill’s depreciation schedule. The committee approved a substitute and voted the bill 'do pass' (5–2–2).

Missouri's Special Committee on Tax Reform has just set a bold new standard for vehicle depreciation, starting at a whopping 85% of MSRP—what does this mean for your wallet?

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Committee hears competing views on vehicle‑valuation bill that would fix assessments at MSRP with a 12‑year depreciation schedule Representative Roger Reedy presented HB 3035 to standardize vehicle assessments using MSRP plus a 12‑year depreciation table. Assessors backed predictability and consistency; school administrators warned of local revenue losses and downstream effects on school‑funding formulas.

A new bill could revolutionize how Missouri values motor vehicles, promising stability for taxpayers but raising concerns about local school funding!

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Sponsor says bill will ensure family trusts get same capital-gains treatment as individuals Rep. Bill Hardwick told the Special Committee on Tax Reform that House Bill 2945 is cleanup language to ensure family trusts are not disadvantaged after last year’s capital-gains deduction repeal; committee members requested federal-code citations and time to review a same-day fiscal note.

House Bill 2945 aims to level the playing field for family trusts by ensuring they receive the same capital gains tax treatment as individuals, sparking important discussions in Missouri's Special Committee on Tax Reform.

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Kehoe urges voter referendum to phase out Missouri individual income tax, outlines budget cuts In his 2026 State of the State, Governor Mike Kehoe asked lawmakers to pass a joint resolution putting a phased elimination of the individual income tax before voters, while proposing more than $600 million in core budget cuts and safeguards to protect K–12 funding.

Governor Mike Kehoe is calling for a bold move to eliminate Missouri's individual income tax within five years, but he needs voters to weigh in first!

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Legislators approve HB 608 to reduce income tax rates Lawmakers pass HB 608, implementing a 25% decrease in income tax rates.

Missouri's House Bill 608 is set to slash income tax rates by 25%, igniting fierce debates about its potential benefits and risks for the state's economy and public services.

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Senator Shelton proposes Missouri tax reform in ongoing legislative session Missouri senators discuss income tax modifications and establish Geospatial Advisory Council.

Missouri lawmakers are poised to transform the state's tax system and enhance geospatial governance, sparking discussions that could change fiscal policies forever.

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