by Matt Kalish
Missouri’s corporate tax rate was rated 7th lowest in the nation, according to a report released Oct.10.
The report from the non-partisan Tax Foundation ranks Missouri as the 16th best tax climate for businesses. The report also ranked Missouri higher than neighboring states Kansas, Iowa, Illinois, Nebraska and Arkansas.
In a written statement, Gov. Jay Nixon credited investments in workforce training and education for the ranking.
“Today, it is clear that these proven, fiscally responsible strategies are paying off for Missouri families and businesses,” Nixon said. “This independent report reaffirms Missouri’s status as a low-tax state with a stable and competitive climate for businesses to grow and invest.”
The ranking comes one month after the Missouri House failed to override Nixon’s veto of a bill that would have cut tax rates under the argument that the state’s tax system was burdensome for businesses.