Tax policy impacts the everday decisions made by individuals, families, and businesses. Better tax policy can generate economic activity and lower the tax burden on individual taxpayers. Missouri Department of Revenue Director, Joel Walters, believes the current Missouri tax system can be changed in ways that would make it more simple, efficient, and fair. With this article, Director Walters seeks to engage Missourians in a dialogue about the strengths and weaknesses of the current tax policy environment in Missouri. The article comprhensively examines Missouri's tax system by discussing a wide variety of topics including corporate income tax, alternatives such as the gross receipts tax, margin taxes, and the corporate franchise tax, as well as individual income taxes, earned income tax credits, sales and use taxes, the U.S. Supreme Court's decision in Quill, motor fuel taxes and specific targeted provisions currently in the Missouri tax law, and more. This article also summarizes recent tax policy discussions in Missouri and the legal framework of reforming the tax code. The Director's ultimate goal is to drive a fact based discussion of the challenges and option to ultimately create a best-in-class tax system that enhances Missouri's tax system for all its citizens and businesses, and provides a model for state tax reform nationwide.
Tax Policy Reform: Issues to be Addressed to the Benefit of all Missourians,
Bus. Entrepreneurship & Tax L. Rev.
Available at: https://scholarship.law.missouri.edu/betr/vol1/iss2/6