Your feedback ensures we stay focused on the facts that matter to you most—take our survey.
Missouri Corporate Franchise Tax Initiative (2018)
| Missouri Corporate Franchise Tax Initiative | |
|---|---|
 | |
| Election date November 6, 2018 | |
| Topic Taxes | |
| Status Not on the ballot | |
| Type State statute | Origin Citizens |
The Missouri Corporate Franchise Tax Initiative was not on the ballot in Missouri as an initiated state statute on November 6, 2018.
The measure would have enacted a corporate franchise tax. Gerald Peterson, the initiative's proponent, filed four versions of the measure. Initiatives 296 and 298 would have set a corporate franchise tax at 1 percent of a corporation's value in outstanding shares and surplus if the value exceeds $10 million. Initiatives 297 and 299 would have set a corporate franchise tax at 2 percent of a corporation's value in outstanding shares and surplus if the value exceeds $10 million.[1]
All four of the proposals would have distributed revenue from the tax as follows:[1]
- 50 percent for constructing and maintaining state highways;
- 37.5 percent for pre-kindergarten, elementary, and secondary schools with at least a 12 percent poverty level; and
- 12.5 percent for the Department of Higher Education.
Initiatives 298 and 299 would have required that the 37.5 percent of revenue for schools be provided only to public schools, whereas Initiatives 296 and 297 would not have prohibited revenue to be spent on non-public schools.[1]
Text of measure
Ballot title
As multiple versions of this initiative were filed for circulation, the secretary of state crafted a ballot title for each one.[1]
| Measure 2018-296 | |||||
|---|---|---|---|---|---|
Do you want to amend Missouri law to:
State governmental entities estimate initial and one-time costs of approximately $80,000, annual costs of approximately $95,000, and annual revenues of approximately $4.5 billion. Local governmental entities expect no costs or savings.[2] | |||||
| Measure 2018-297 | |||||
|---|---|---|---|---|---|
Do you want to amend Missouri law to:
State governmental entities estimate initial and one-time costs of approximately $80,000, annual costs of approximately $95,000, and annual revenues of approximately $9 billion. Local governmental entities expect no costs or savings.[2] | |||||
| Measure 2018-298 | |||||
|---|---|---|---|---|---|
Do you want to amend Missouri law to:
State governmental entities estimate initial and one-time costs of approximately $80,000, annual costs of approximately $95,000, and annual revenues of approximately $4.5 billion. Local governmental entities expect no costs or savings.[2] | |||||
| Measure 2018-299 | |||||
|---|---|---|---|---|---|
Do you want to amend Missouri law to:
State governmental entities estimate initial and one-time costs of approximately $80,000, annual costs of approximately $95,000, and annual revenues of approximately $9 billion. Local governmental entities expect no costs or savings.[2] | |||||
Full text
The full text of the initiative is available for Petition 2018-296, Petition 2018-297, Petition 221-298, and Petition 221-299.
Path to the ballot
Supporters of the initiative were required to collect a number of signatures equivalent to 8 percent of the 2016 gubernatorial vote in six of the eight state congressional districts. This means that the minimum possible number of valid signatures required was 160,199. Signatures needed to be filed with the secretary of state six months prior to the election on November 6, 2018. Six months prior to the election was May 6, 2018.
Gerald Peterson proposed four versions of the initiative. The petitions were approved for circulation on November 17, 2017.[1] Signatures were not filed for the proposals.
See also
External links
Footnotes
 |
State of Missouri Jefferson City (capital) |
|---|---|
| Elections |
What's on my ballot? | Elections in 2025 | How to vote | How to run for office | Ballot measures |
| Government |
Who represents me? | U.S. President | U.S. Congress | Federal courts | State executives | State legislature | State and local courts | Counties | Cities | School districts | Public policy |
