![]() The current values of these deductions for tax year 2022 are as follows: ![]() The three most common deductions encountered by taxpayers are the Missouri Standard Deduction, the Missouri Personal Exemption, and the Missouri Dependent Deduction. In addition to marginal tax brackets, one of the major features of the Missouri income tax is deductions. Remember that Missouri may have very different deduction laws from the Federal Income Tax, so you may have to write a whole new list of deductions for your Missouri income tax return. Qualifying deductions might include an itemized deduction, the Missouri standard deduction, exemptions for dependants, business expenses, etc. ![]() When calculating your Missouri income tax, keep in mind that the Missouri state income tax brackets are only applied to your adjusted gross income (AGI) after you have made any qualifying deductions. Keep in mind that this estimator assumes all income is from wages, assumes the standard deduction, and does not account for tax credits.įor a more detailed estimate that takes these factors into account, click "View Detailed Estimate" (this will will redirect to an external website). You can use the income tax estimator to the left to calculate your approximate Missouri and Federal income tax based on the most recent tax brackets.
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