SB 1164 Disallows the deduction for property tax paid to another state on nonresident income tax returns
Sponsor:Jacob Co-Sponsor(s)
LR Number:4146S.01I Fiscal Note:4146-01
Committee:Ways and Means
Last Action:02/24/04 - Hearing Conducted S Ways and Means Committee Journal page:
Effective Date:August 28, 2004
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Current Bill Summary

SB 1164 - Currently, in certain cases, a nonresident may receive an itemized deduction on their federal return for property taxes paid to another state. Current Missouri law does not require that this amount be "added-back" on the Missouri return. Therefore, the deduction for property taxes paid to another state carries through to apply against the Missouri income tax of a nonresident. This act eliminates this deduction by requiring nonresidents to add-back the amount of the federal deduction on their Missouri tax return.

The act designates the additional revenue from this statutory change to the Missouri college guarantee fund.

This act is similar to SB 888 (2004).