FIRST REGULAR SESSION
SENATE BILL NO. 248
93RD GENERAL ASSEMBLY
INTRODUCED BY SENATOR DOLAN.
Read 1st time January 26, 2005, and ordered printed.
TERRY L. SPIELER, Secretary.
0377S.01I
AN ACT
To repeal section 143.111, RSMo, and to enact in lieu thereof two new sections relating to the state income tax.
Be it enacted by the General Assembly of the State of Missouri, as follows:
Section A. Section 143.111, RSMo, is repealed and two new sections enacted in lieu thereof, to be known as sections 143.111 and 143.125, to read as follows:
143.111. The Missouri taxable income of a resident shall be such resident's Missouri adjusted gross income less:
(1) Either the Missouri standard deduction or the Missouri itemized deduction;
(2) The Missouri deduction for personal exemptions;
(3) The Missouri deduction for dependency exemptions;
(4) The deduction for federal income taxes provided in section 143.171; [and]
(5) The deduction for a self-employed individual's health insurance costs provided in section 143.113; and
(6) The deduction for tuition, attendance fees, or school supplies provided in section 143.126.
143.126. For tax years beginning on or after January 1, 2006, in addition to the amounts to be subtracted from a resident's Missouri adjusted gross income to determine Missouri taxable income under the provisions of section 143.111, there shall be subtracted the amount the taxpayer has paid to others for each dependent in grades kindergarten through twelve, for tuition, attendance fees, or school supplies for or on behalf of each dependent in attending a secondary school situated in Missouri, up to a maximum of two thousand five hundred dollars for each dependent.