City of Boonville, Mo

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Taxes

Missouri’s state and local taxes, on average, falls below the nationwide average. Approximately 10.1% of an individual’s income goes toward taxes in Missouri, while the average stands at 11%. In other words, approximately $3678 goes toward state and local taxes based on the per capita income of $36, 341 in 2007. The individual tax burden (local/state) ranks 34th in the nation (1 being highest, 50 lowest). Neighboring states stand at: Iowa (18), Nebraska (9), Kansas (15), Kentucky (20), Tennessee (48), Arkansas (13), and Illinois (22).

Missouri is ranked 15th as the best business climate, according to the tax foundation. This ranking is a composite score based on 113 variables put into five categories. The five categories are: Corporate Tax Index, Individual Income Tax Index, Sales Tax Index, Unemployment Tax Index and Property Tax Index. The total score for each state is calculated based on the scores on each of the five component indexes. Neighboring state rankings include: Iowa (45), Nebraska (43), Kansas (33), Oklahoma (19), Kentucky (36), Tennessee (16), Arkansas (35), and Illinois (28). For more information on the best business climate index, click here (http://www.taxfoundation.org/research/show/22658.html)

Cigarette Tax- $0.03/ 20 cigarettes (2nd lowest in the nation)
Gasoline Tax- &0.17/ gallon (6th lowest in nation)

Source: The Tax Foundation 2009, www.taxfoundation.org

SALES TAX INFORMATION

CITY
1¢ general
1/2¢ capital improvements
1½¢

COUNTY TOTAL= 7.475%
1/2¢ general
1/2¢ road & bridge
1/2¢ law enforcement
1/4¢ 911
1/4¢ Ambulance District
2¢

STATE
4.225¢

BED TAX
4%

Missouri State Corporate Tax Rate
6.25%

Personal Income Tax:
1.5-5.5% on income below $9000, and below 6% on income exceeding $9000