Missouri Might Tax Bush Tax Refund

The Bush Administration’s tax cut bill has been signed by the President and refund checks will soon be sent out. But the state of Missouri might take a slice out of that refund pie. State director of Revenue Carol Fischer says her department is looking at the issue, and might consider the refund taxable income. Fischer says, however, the most anyone would pay on next year’s state tax return would be 6 percent of what is refunded this summer.