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Missouri lawmakers have approved a sweeping tax reform that eliminates state income tax on capital gains including those from cryptocurrency trades. The bill now heads to Governor Mike Kehoe for final approval. Supporters say the move will encourage investment and innovation especially in digital assets like Bitcoin and Ethereum.
The bill passed with strong Republican backing while most Democrats abstained or voted present. Lawmakers project a $430 million revenue loss this fiscal year and $340 million annually. Despite budget concerns the bill also expands tax credits for low-income seniors and exempts sales tax on diapers and feminine hygiene products.
Crypto advocates see this as a major win since digital asset gains will now be tax free in Missouri starting in 2025. The change could attract more crypto traders and investors to the state promoting long-term holding and market growth. Corporate capital gains will remain taxed until 2030 but this delay helped ease Senate opposition to the measure.
