Social Sciences
4 years ago

Missouri taxpayers benefit from remarkably steady income tax rates over years.

RePEc: Research Papers in Economics
Computing State Average Marginal Income Tax Rate: An Application to Missouri
G. Dean Crader, Joseph H. Haslag

Paper Summary

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The article calculates the average marginal income tax rate for Missouri using data from 2000 to 2015. By analyzing how a 10changeinincomeaffectstaxpayments,theresearchersfoundthattheaverageratestayedconsistentataround3.5010 change in income affects tax payments, the researchers found that the average rate stayed consistent at around 3.50% to 3.66%. This rate is lower than the top tax rate of 6% for incomes over 10changeinincomeaffectstaxpayments,theresearchersfoundthattheaverageratestayedconsistentataround3.509,000. Different types of income were also compared to the reported state rate by the NBER.