HCS/HB's 64 & 545 - Beginning January 1, 2010, this act revises the Missouri individual income tax rate schedule by applying the current maximum tax rate of six percent to income in excess of fifty thousand dollars. Under current law the six percent maximum rate is applicable to all income in excess of nine thousand dollars. The dependency exemption is increased from one thousand two hundred dollars to one thousand six hundred dollars per dependent, and the state income tax deduction for federal income tax liability is increased from five thousand dollars to seven thousand five hundred dollars for single taxpayers and from ten thousand dollars to fifteen thousand dollars for combined filers.JASON ZAMUS
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