Missouri Becomes First State to Repeal Capital Gains Tax, at an Estimated $625M Cost

Missouri becomes first state to repeal capital gains tax, at estimated $625 million cost

The latest state estimate is that the change could result in more than $625 million less revenue for the state in the coming fiscal year.

Missouri becomes 1st state to repeal capital gains tax, at an estimated $625M cost

Missouri's new tax law exempts capital gains from income tax, effective Thursday. This could reduce state revenue by $157 million in the current fiscal year.

Missouri is first state to repeal capital gains tax. The move could cost $625 million

Missouri's capital gains tax cut will apply to all gains since Jan. 1, and will be reflected in the income tax returns due in April. It's the first state to exempt profits from the sale of assets such as stocks, real estate, and cryptocurrency from income taxes.

Missouri becomes first state to repeal capital gains tax, at an estimated $625M cost

Missouri House Speaker Pro Tem Chad Perkins of Bowing Green speaks during debate Feb. 11 on his bill exempting capital gains from the state income tax (Tim Bommel/Missouri House Communications).A new Missouri income tax cut exempting profits from the sale of investments officially takes effect Thursday, along with smaller tax changes that will remove sales tax from diapers and feminine hygiene products. All state laws passed in a regular session…