Update policyengine_us/parameters/gov/states/mo/tax/income/rates.yaml

Co-authored-by: Max Ghenis <[email protected]>
PolicyEngine · Jan 16, 2025 · e769b83 · e769b83
1 parent 46ed629
commit e769b83
Showing 1 changed file with 4 additions and 1 deletion.
diff --git a/policyengine_us/parameters/gov/states/mo/tax/income/rates.yaml b/policyengine_us/parameters/gov/states/mo/tax/income/rates.yaml
@@ -109,7 +109,10 @@ brackets:
       2019-01-01: 0.054
       2022-01-01: 0.053
       2023-01-01: 0.0495 # Set by 143.011.2(1)
-      2024-01-01: 0.048
+      2024-01-01: 0.048 # Reduced by 0.15% per 143.011.3(1)
+      # First 0.1% reduction allowed per 143.011.4(1), confirmed in 2025
+      # withholding formula. Statutes allow further reductions to 0.046 in 2026
+      # and 0.045 in 2027, but we assume revenue conditions not met until confirmed.
       2025-01-01: 0.047
 
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