| Tax |
Missouri |
Illinois |
| Corporate Income Tax |
6.25% of Missouri taxable income, with adjustments including deductibility of 50% of federal income tax. |
7.3%, which includes 4.8% state income tax and 2.5% personal property replacement tax. |
| Taxable Income |
Three-factor or sales only, whichever results in lower taxes. |
In-state sales only |
| Franchise Tax |
$0.33 per $1,000 of par value of outstanding shares and surplus or total assets. Corporations with less than $1,000,000 outstanding shares and surplus are not taxed. |
Initial franchise tax of 0.15% of paid-in capital, thereafter annual franchise tax of 0.1% of paid-in capital, maximum of $2 million. |
| Property Tax |
Residential property assessed at 19% of true or fair market ; commercial and industrial property assessed at 32%; personal property at 331/3%. Business inventories are not taxed. |
Real property is assessed at 33.4% of market value. Tax rates approximate 8.86% of actual value statewide. Personal property is not taxed. Business inventories are not taxed. |
| Sales & Use tax |
4.225% of purchase price of tangible personal property and enumerated services. Local sales taxes also apply and vary by jurisdiction. |
6.25% of purchase price of tangible personal property and selected services. 1% tax on qualifying food, drugs, and medical appliances. Local sales taxes also apply and vary by jurisdiction. |
| Personal Income Tax |
$315 plus 6% of federal adjusted gross income over $9,000. |
3% of federal adjusted gross income. |
| Local Income Tax |
St. Louis City residents and workers pay a 1% earnings tax. St. Louis City employers pay a payroll tax of 0.5%. |
No local earnings taxes |
