In July 2025, Missouri Gov. Mike Kehoe signed House Bill 594, eliminating the capital gains tax for individuals. Missouri is the first state imposing an individual income tax to eliminate a tax on capital gains.
Under the new bill, effective Jan. 1, 2025, 100% of all income reported as a capital gain for federal income tax purposes by an individual shall be subtracted from federal adjusted gross income (AGI) for purposes of determining Missouri taxable income.
Clients with questions should reach out to their Lopata tax advisor for more information.
THE 2025 SALT DEDUCTION CAP INCREASE MIGHT SAVE YOU SUBSTANTIAL TAXES
2025-10-28
If you pay more than $10,000 in state and local taxes (SALT), a provision of the One Big Beautiful Bill Act (OBBBA) could significantly reduce
