HB 747 -- Income Tax Rates

Co-Sponsors:  Blunt, Wright

Under current law, taxable income for purposes of state
individual income tax is taxed by percentage based on the
taxable income level of the taxpayer.  The tax percentage begins
at the rate of 1 1/2% on income less than $1,000 and increases
by 1/2% for each $1,000 of income up to a maximum of 6% for
incomes over $9,000.  This bill reduces each percentage of tax
per $1,000 by 1/2%.