Missouri Advances Capital Gains Tax Exemption, Awaits Governor’s Approval
Missouri’s Republican-controlled legislature has passed a bill eliminating capital gains tax on cryptocurrencies, stocks, and real estate, pending Governor Mike Kehoe’s approval, expected by 2025.
The tax exemption could impact Missouri’s public services funding, sparking debate among policymakers and analysts while the crypto community largely remains silent.
Missouri Legislature Approves SB 46 for 2025 Tax Exemption
The Missouri Legislature approved SB 46, proposing a capital gains tax exemption for individuals on cryptocurrency, stocks, and real estate starting 2025. Governor Mike Kehoe holds the bill awaiting his signature to finalize its enactment. Governor Mike Kehoe has expressed that he is “very supportive” of the capital gains tax repeal, which he articulated in public statements.
Republican state legislators advanced the bill through the House and Senate, seeking to enhance state attractiveness for investors. The proposal may extend to corporate entities if future state revenues support it.
Concerns Over $500 Million Annual Tax Cut Impact
The exemption is seen as a $500 million annual tax cut, raising concerns about possible budgetary implications for state-funded services. Proponents believe it could boost Missouri’s investment appeal.
Lacking federal adjustment, Missouri residents will still face federal capital gains taxes. This state-level change aims to enhance local financial attractiveness, pending on-chain data confirmation of significant investor interest.
Missouri to Become First State with Full Asset Exemption
Missouri is set to become the first U.S. state to eliminate capital gains taxes on all assets, marking a precedent among states with partial exemptions only in place.
Kanalcoin experts note potential fiscal strains for public services. Traditional statewide tax changes have drawn mixed reactions, with positive outlooks for local investment yet questionable budget periods ahead.
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