Since the passing of the Tax Cuts and Jobs Act in 2017, there have been many changes to individual state tax rates across the United States. If you’re a resident of Missouri and you’re wondering about the state tax rates for the year 2015, this article will provide you with all the information you need.
**What was the Missouri state tax rate in 2015?**
The Missouri state tax rate for the year 2015 varied depending on your income level. The tax rates ranged from 1.5% to 6.0%. The tax brackets were as follows:
– For individuals earning up to $9,000, the tax rate was 1.5%
– For individuals earning between $9,001 and $18,000, the tax rate was 2.0%
– For individuals earning between $18,001 and $36,000, the tax rate was 2.5%
– For individuals earning between $36,001 and $54,000, the tax rate was 3.0%
– For individuals earning between $54,001 and $180,000, the tax rate was 4.0%
– For individuals earning more than $180,000, the tax rate was 6.0%
These tax rates applied to both single filers and married couples filing joint returns. It’s important to note that these rates are specific to the year 2015 and may not be applicable to subsequent years.
How do I calculate my Missouri state tax liability for 2015?
Calculating your Missouri state tax liability for 2015 can be done by following these steps:
1. Determine your federal adjusted gross income (AGI) for 2015.
2. Subtract any eligible deductions or exemptions to arrive at your Missouri taxable income.
3. Determine your tax bracket based on your income level using the previously mentioned tax rates.
4. Multiply your Missouri taxable income by the corresponding tax rate to calculate your tax liability.
It’s worth mentioning that this is a simplified explanation of the calculation process. To get an accurate result, you may want to consult a tax professional or use a tax software program specifically designed for Missouri state taxes.
Other Considerations for Missouri State Taxes
Understanding the tax rates is just one aspect of filing your Missouri state taxes. Here are a few other considerations to keep in mind:
Missouri Standard Deduction
In 2015, the standard deduction for Missouri state taxes was as follows:
– For individuals with a filing status of single, the standard deduction was $6,300.
– For married couples filing joint returns, the standard deduction was $12,600.
Missouri Itemized Deductions
If you choose to itemize your deductions instead of taking the standard deduction, you may be able to reduce your taxable income further. Common itemized deductions include medical expenses, mortgage interest, property taxes, and charitable contributions.
Missouri Tax Credits
Missouri offers several tax credits that can help reduce your state tax liability. These credits may be available for various purposes, such as child and dependent care expenses, residential energy-efficient property, historic preservation, and more. It’s beneficial to explore these credits to see if you qualify for any of them.
Frequently Asked Questions
What happens if I didn’t file my Missouri state taxes for 2015?
If you didn’t file your Missouri state taxes for the year 2015 and you owe taxes, you may incur penalties and interest on the unpaid amount. It’s important to address any unpaid taxes as soon as possible to avoid further consequences.
Can I still file my Missouri state taxes for 2015?
Yes, you can still file your Missouri state taxes for 2015 if you haven’t done so already. The statute of limitations for Missouri state taxes is generally three years from the original due date or the date of filing, whichever is later. However, it’s important to note that if you’re expecting a refund, you must file your return within three years of the original due date to claim it.
Can I e-file my Missouri state taxes for 2015?
No, the Missouri Department of Revenue does not offer e-filing options for past years’ tax returns. You will need to file a paper return by mail.
Final Thoughts
Understanding the Missouri state tax rates for the year 2015 is crucial if you’re a resident or a former resident filing your taxes for that year. By knowing the tax rates, deductions, and credits available, you can ensure that you’re filing your taxes accurately and taking advantage of any potential opportunities to reduce your tax liability. Remember, it’s always a good idea to consult a tax professional or use a trusted tax software to ensure that you’re meeting all the necessary requirements and maximizing your potential benefits.