SB 157
Modifies provisions relating to income tax exemptions for certain retirement benefits
Sponsor:
LR Number:
0976S.01I
Committee:
Last Action:
4/14/2021 - Hearing Cancelled S Health and Pensions Committee
Journal Page:
Title:
Calendar Position:
Effective Date:
August 28, 2021

Current Bill Summary

SB 157 - Current law allows taxpayers with certain filing status and adjusted gross income below certain thresholds to deduct 100% of certain retirement and Social Security benefits from the taxpayer's Missouri adjusted gross income, with a reduced deduction as the taxpayer's adjusted gross income increases. For all tax years beginning on or after January 1, 2022, this act allows the maximum deduction to all taxpayers regardless of filing status or adjusted gross income.

This act is identical to SB 847 (2020) and HB 1725 (2020).

JOSH NORBERG

Amendments

No Amendments Found.