-In Missouri, the cities of Kansas City and St. Louis have additional local city income tax.
-Missouri is one of the few states with no annual LLC fee.
The state of Missouri has an individual income tax, and like most states, it has multiple tax brackets (9) which range from 1.50% to 5.40%. The highest bracket starts at income over $8,424.
Local income tax – The other thing to be aware of is if you are a resident of either Kansas City or St. Louis, there is an additional local city income tax of 1.00%.
The state of Missouri has a flat Corporate income tax rate of 6.25% on all income regarding C Corporations. For other businesses that flow-thru entities, such as S Corporations, Partnerships, LLCs, etc., they are taxed at the individual income tax rate which ranges from 1.50% to 5.40% of your Missouri income.
Like most states, Missouri has both a local and state sales tax rate. Their state sales tax rate is 4.23% and their local sales tax rate is 3.96% (which bring the total average sales tax rate to 8.19%).
The average property tax rate for residential property in the state of Missouri is 1.01%. Which puts it slightly below the national average of 1.05%.
Unemployment taxes usually consist of three factors. They are the wage base, range of rates, number of schedules. Below is an outline of the three:
Missouri is one of the least expensive states in the country to open an LLC. Here are some important facts: