SB638 - Increases the tax on cigarettes by twenty-six cents and modifies the tax rates for state income taxes

SB 638

Increases the tax on cigarettes by twenty-six cents and modifies the tax rates for state income taxes

Sponsor:

Lamping

LR Number:

4369S.02I

Committee:

Ways and Means and Fiscal Oversight

Last Action:

2/2/2012 - Second Read and Referred S Ways and Means and Fiscal Oversight Committee

Journal Page:

S193

Title:

Calendar Position:

Effective Date:

August 28, 2012

Current Bill Summary

SB 638 - This act increases Missouri's excise tax on cigarettes from seventeen cents per pack to forty-three cents per pack beginning August 28, 2012. The revenue derived from the twenty-six cent increase will be deposited in the general revenue fund.

The act modifies the tax rates for state income tax, to exempt the first two thousand dollars of Missouri adjusted gross income from state income tax and adjust the tax on other levels of income.

EMILY KALMER

Amendments