Missouri tax bill exempts crypto and stock gains from income tax

Airdrop Is Live CaryptosHeadlines Media Has Launched Its Native Token CHT. Airdrop Is Live For Everyone, Claim Instant 5000 CHT Tokens Worth Of $50 USDT. Join the Airdrop at the official website, CryptosHeadlinesToken.com Missouri lawmakers have passed a sweeping tax bill that exempts capital gains from state income tax and sent it to Gov. Mike Kehoe for signature. The measure, a top priority for House Republicans, passed the House Wednesday with only GOP support and 10 Democrats voting “present.”The bill would apply retroactively to capital gains realized in 2025, leading to an estimated $430 million hit to state revenue in the current fiscal year, and $340 million annually thereafter, according to the Missouri Independent. Democrats raised concerns about the budget impact, citing state revenue trends that are already more than 2% below projections.Though the bill offers targeted relief, such as expanding the “circuit breaker” property tax credit for low-income seniors and people with disabilities, and exempting state sales tax on diapers and feminine hygiene products, Democrats said the capital gains exemption benefits high-income earners disproportionately. In 2022, 0.8% of Missouri taxpayers earned 65% of the state’s reported capital gains.Crypto capital gains would also be exempt from taxation, which could incentivize more digital asset trading and long-term holding in Missouri but further deepen the revenue shortfall for the state, especially if crypto keeps making gains. Corporate capital gains taxes Corporate capital gains would not be exempt until at least 2030, when Missouri’s top individual tax rate falls to 4.5% under an existing trigger law. That delayed timeline helped the bill gain support from five of ten Senate Democrats.Republicans, including bill sponsor House Speaker Pro Tem Chad Perkins, defended the measure as a way to spur investment and reduce tax burdens. Source link