SB 573 - This act allows members of the National Guard or reserve components of the Armed Forces of the United States to deduct such military income from his or her Missouri adjusted gross income to determine such taxpayer's Missouri taxable income. The percentage of such income that may be deducted shall be phased in between tax years 2020 and 2024 in twenty percent increments.
The income tax deduction authorized by this act shall apply to income received as salary or compensation in performance of Inactive Duty for Training (IDT) of the National Guard, Annual Training Status (AT) of the National Guard, or in reserve components of the Armed Forces of the United States. The deduction shall not apply to income received while engaging in civilian federal service, including civil service positions requiring the wearing of military uniform and military affiliation.
This act is substantially similar to SB 144 (2017).