Section 10 Defining ?Personal Income of Missouri?
| Library | Tax Law 2009 |
Like total state revenues, the “personal income of Missouri” figure was used to determine the initial revenue limitation based on the ratio of state revenues to income of Missourians in the base years. In addition, personal income of Missouri is important in determining the growth in state revenues allowed each year thereafter. Article X, § 17(2), of the Missouri Constitution defines “[p]ersonal income of Missouri” as “the total income received by persons in Missouri from all sources, as defined and...
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