SB 894 Creates an income tax deduction for higher education expenses

Sponsor: Green LR Number: 3730S.01I Fiscal Note: 3730-01 Committee: Ways & Means Last Action: 2/25/2008 - Hearing Conducted S Ways & Means Committee Journal Page: Title: Calendar Position: Effective Date: August 28, 2008

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Current Bill Summary

SB 894 - This act creates a deduction against a taxpayer's Missouri state income tax for qualified higher education expenses. In order to qualify, the taxpayer student or taxpayer claiming a student as a dependent, must have a federal adjusted gross income of less than two hundred thousand dollars regardless of whether the taxpayer files a joint or single return and the educational expenses must be incurred by a student registered at least half time.

This act is similar to Senate Bill 187 (2007) and Senate Bill 670 (2006).

JASON ZAMKUS