I’m in Missouri (6% state income tax). No child credits anymore. Don’t think this does much for me.
RE: I’m in Missouri (6% state income tax). No child credits anymore. Don’t think this does much for me.
It says in the article:
“Typical families in the existing 10% bracket are expected to be better off under the framework due to the larger standard deduction, larger child tax credit and additional tax relief that will be included during the committee process.”
A lot will depend on what the new tax brackets are, but right now I don’t see how I will be able to avoid paying more taxes. State and Federal since I don’t see Missouri making the same kind of adjustments.