SB 994 - This act modifies provisions relating to the filing of income tax returns.BEGINNING FARMER INCOME TAX DEDUCTION
Current law authorizes an income tax deduction for certain income received for the sale or lease of farmland to beginning farmers. This act adds a definition of "taxpayer" to such deduction. (Section 143.121)
This provision is identical to SB 1291 (2026), SB 682 (2025), and HB 1042 (2025), and to a provision in HCS/SS/SB 67 (2025), HCS/HB 828 (2025), and HCS/SS/SCS/SB 466 (2025).
TAX RETURNS
Current law provides that the date for filing income tax returns shall be the fifteenth day of the fourth month following the close of the taxpayer's taxable year. This act provides that such date shall be the date prescribed for the filing of federal tax returns. The act provides that if such date is changed for any reason, the date for filing state income tax returns shall also be changed to such date. (Section 143.511)
This provision is identical to a provision in HCS/SS/SB 67 (2025), HCS/SS/SCS/SB 466 (2025), and HCS/HB 828 (2025).
This act provides that tax return forms for all tax years beginning on or after January 1, 2026, shall indicate the name of the public school district in which the taxpayer resides. (Section 143.971)
TAX DEFICIENCIES
This act provides that a taxpayer shall not be liable for penalties or interest on an income tax balance due if such taxpayer is denied part or all of a tax credit to which the taxpayer has qualified pursuant to any provision of law due to lack of available funds, and such denial causes a balance-due notice to be generated by the Department of Revenue or any other redeeming agency. Such taxpayer shall pay the balance due within sixty days or be subject to penalties and interest pursuant to current law. (Section 143.512)
This provision is identical to a provision in HCS/SS/SB 67 (2025), HCS/SS/SCS/SB 466 (2025), and HCS/HB 828 (2025).
This act provides that a taxpayer that has paid a deficiency and any interest, additions to tax, or penalties attributable to such deficiency that is subsequently found to be erroneous, regardless of whether such taxpayer has timely filed a protest with the Director of Revenue, shall be entitled to a refund in the amount of the deficiency and any interest, additions to tax, or penalties attributable to such deficiency that were paid by the taxpayer. Such refund shall be paid as provided in current law. (Section 143.621)
This provision is identical to SB 1377 (2026).
JOSH NORBERG