SB 34 - Bill Information - Missouri Senate

SB 34 - Bray, Joan

Requires amount of taxes paid to another state for property taxes be added back in for income tax calculation

Sponsor

Bray, Joan

LR Number

0432S.01I

Title

SB 34

House Handler

N/A

Journal Page

N/A

Effective Date

August 28, 2007

Committee

Ways & Means

Current Status

Voted Do Pass S Ways & Means Committee

List of 2007 Senate Bills

No amendments available

SB 34 - Currently, in certain cases, a nonresident may receive an itemized deduction on their federal return for property taxes paid to another state. Current Missouri law does not require that this amount be "added-back" on the Missouri return. Therefore, the deduction for property taxes paid to another state carries through to apply against the Missouri income tax of a nonresident. This act eliminates this deduction by requiring nonresidents to add-back the amount of the federal deduction on their Missouri tax return. This act is identical to Senate Bill 595 (2006). JASON ZAMKUS