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SB 920 - Under this act, the amount a taxpayer may deduct from their Missouri taxable income for each dependent will automatically increase according to the Consumer Price Index. Each year, a taxpayer may deduct from their Missouri taxable income, $1,200 plus an additional amount equal to $1,200 multiplied by the percentage by which the Consumer Price Index for that year exceeds the Consumer Price Index for the 2016 calendar year. DOMENIC SITA
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