SB 310 Amends various provisions relating to withholding of retirement payments for income tax purposes
Sponsor: Champion
LR Number: 1472S.02P Fiscal Note: 1472-02
Committee: Ways & Means
Last Action: 5/13/2005 - H Calendar S Bills for Third Reading Journal Page:
Title: SCS SB 310 Calendar Position:
Effective Date: August 28, 2005
House Handler: Dixon

Full Bill Text | All Actions | Available Summaries | Senate Home Page | List of 2005 Senate Bills

Current Bill Summary

SCS/SB 310 - This act requires mandatory withholding of retirement income which includes withholding for entities outside of Missouri. The term retirement income is defined as any annuity, pension, or retirement allowance as defined in subsection 1 of Section 143.124, RSMo. A taxpayer is granted the option to have additional withholding or, upon written notification, the taxpayer may elect not to have an amount withheld from their payment. The administration, collection, and enforcement of the withholding tax will be done in the same manner as employer withholdings.