Missouri; First State to Fully Exempt Capital Gains Tax

JEFFERSON CITY, MO — Missouri House Bill 594 (HB 594), recently signed into law by Governor Mike Kehoe, is landmark legislation that eliminates tax on capital gains for individuals and provides a path for corporations in Missouri to do so, as well. This bill makes Missouri the first state in the nation to completely exempt such tax for individual filers.

“The department is already preparing for next year’s tax season and we are making the adjustments required to accommodate this and other new laws that affect taxpayers,” Director of Revenue Trish Vincent said. “It is always a good thing when we can implement changes that put more money back into the pockets of hardworking Missouri citizens.”

The key provisions in HB 594 are outlined below:

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