New tax cuts mostly favor the rich across states this year
By Kevin Hardy, Stateline.org
Missouri Republicans may take their tax-cutting efforts to new heights this year as lawmakers consider exempting profits from the sale of stocks, bonds and real estate from state income taxes.
Part of a broader push to eliminate the state income tax altogether, legislation making its way through the Capitol would provide an unprecedented benefit to the wealthy by excluding capital gains, the long-term earnings from the sale of assets. If approved, tax experts say, the legislation would mark the first time a state with an income tax has eliminated capital gains tax.
The Republican sponsors say the move would make the state more attractive for businesses and families.
“This bill is intended to energize Missouri’s economy,” Republican Speaker Pro Tem Chad Perkins said upon introducing the measure.
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The outdoor entertaining space features multiple fire elements lining the pool, a summer kitchen and a sunken living room with a fire pit. The owner will rebuild a small accessory building as a private, detached office in the backyard. (Rendering by Mills Design Group) courtesy of CNW Group/Alair Enterprises Ltd.
The sloping lot presented a challenge to the design team because the retaining wall and infinity pool could not be more than 5 feet above grade. (Rendering by Mills Design Group)
The infinity pool overlooks the deep yard and dock on Lake Osceola. (Rendering by Mills Design Group)
The summer kitchen has a grill, smoker and covered dining area. (Rendering courtesy of Alair Homes Orlando)
A separate 3-car garage with a second-story apartment will be placed in front of the main house on the narrow, .7-acre lot. The building will be adorned with a living wall and accented by a sculpture. (Rendering by Mills Design Group)