Get Online Missouri Tax Refund 2015 – 2016
Like most states, the Missouri’s State Income Tax system uses an income tax with several brackets depending on your level of income. There are ten different earning brackets and the income tax rates range from 1.5% to 6%.
The Missouri State Sales tax rate is set at 4.225%, which includes conservation and other taxes. The state sales tax applies to the sale of all personal tangible goods and some taxable services. There is also a Use Tax charged to businesses, which generally gets passed on to the customer.
There are also many local taxes throughout the state that are added onto the state sales tax. In some areas, the total sales tax rate can exceed 10%, with extra taxes like the “community improvement district” tax, “transportation development district” tax, and “museum district” tax. Certain foods also have a tax rate of 1.225%.
There are several exemptions to the Missouri state sales tax, including purchases by charitable organizations.
There generally two ways you can file your tax return. You can file it on paper, which you can do either by yourself, or by hiring tax professionals to file it for you. Filing yourself can be difficult and tiresome, and it can be easy to make mistakes with so many forms to fill out. Hiring a professional can end up getting pretty expensive, and there’s still the chance of human error. Not to mention when you file on paper, it can take weeks and weeks for your tax return to get back to you. It really doesnt matter how complicated your tax situation is usually an online tax preparation company can walk you through the process and save you a lot of money too! So consider e-filing your state tax return this year.
Missouri State Income Taxes 2015 – 2016
Missouri state tax basis is the Federal Adjusted Gross Income (AGI).
Interest/Divident Income: Interest and Divident income from U.S. government bonds are exempt from State Taxes.
Rent Income: Same as federal.
Capital Gain: 25% exclusion for certain sales of low-income housing
Unemployment Income: Same as federal
Social Security Benefits: Same as federal
State Bond Interest: Taxable except Missouri obligations.
Health Savings Accounts: Same as federal.
Disability: Same as federal.
Lottery: Same as federal.
Federal Income Tax: Up to $5,000 is deductible ($10,000 if combined return)
Other Taxes: Deductions for contributions to and qualified withdrawals from
Missouri State Tax Forms 2015 – 2016
558 – Military Information
1937 – Request for Photocopy of Missouri Income Tax Return
Address Change – Change of Name or Address
Insurance Premium – Worksheet for Health Insurance Premium Subtraction
MO-60 – Application for Extension of Time to File
MO-1040ES – Estimated Tax Declaration for Individuals
MO-1040P fillable instructions – Property Tax Credit Claim/Pension Exemption
MO-1040V – Individual Income Tax Payment Voucher
MO-2210 – Underpayment of Estimated Tax
MO-A – Individual Income Tax Adjustments
MO-ATC – Adoption Tax Credit Claim
MO-CFC – Champion for Children Tax Credit Claim
MO-CR – Credit for Income Taxes Paid to Other States
MO-CRP – Certification of Rent Paid for 2014
MO-FPT – Food Pantry Tax Credit
MO-HEA – Home Energy Audit Expense
MO-PTC Chart – Property Tax Credit Claim Chart
MO-PTC fillable instructions – Property Tax Credit Claim
MO-PTS – Property Tax Credit Schedule
MO-SCC – Shared Care Tax Credit
MO-SHC – Self-Employed Health Insurance Tax Credit
MO-TC – Miscellaneous Income Tax Credits