The City of Branson has a general sales tax on retail sales plus a tourism tax on tourism-related sales such as lodging, attractions and restaurants. Two of Branson's major shopping centers, Branson Landing and Branson Hills, also have special improvement district sales taxes.
Click on the Financial Reports link (left) to see recent reports of local sales tax and tourism tax collections, as well as other city budgets, surveys and financial reports.
Commercial and industrial real property is assessed at 32% of market value. Residential property is assessed at 19% of market value. The assessments and collections of property tax are functions of Taney County.
Corporate Income Taxes
The tax rate for corporations is 6.25% applied to Missouri taxable income. In addition, Missouri allows 50% of federal income tax payments to be deducted before computing taxable income. Using the deduction, a corporation with a taxable income of $1 million would have a Missouri effective tax rate of only 5.2%.
For corporations conducting business both inside and outside Missouri, only income earned in Missouri is taxed. Two allocation options are offered for calculating this income: 1) a single-factor formula based on sales, or 2) a three-factor formula based on property, payroll, and sales. Missouri is the only state that permits companies to choose the formula that results in the lesser corporate income tax liability. In addition, Missouri has not adopted unitary tax assessment in computing corporate income tax liability.
In April 2011, Missouri Governor Jay Nixon signed legislation that will eliminate the Missouri Corporate Franchise Tax. This phased reduction will eliminate the tax by 2016. Read more on the Governor’s website.
Certain tax credits may apply. For more information about the incentives offered by the state of Missouri, visit the Missouri Department of Economic Development at www.ded.mo.gov