SB 920 - Schmitt, Eric
Adjusts the exemption amount allowed for each dependent based on the Consumer Price Index
Bill Details
Sponsor
LR Number
5757S.01I
Title
SB 920
House Handler
N/A
Journal Page
N/A
Co-Sponsors
Effective Date
August 28, 2016
Committee
Current Status
Informal Calendar S Bills for Perfection--SB 920-Schmitt and Kraus
Quick Links
Amendments
No amendments available
CURRENT BILL SUMMARY
SB 920 - Under this act, the amount a taxpayer may deduct from their Missouri taxable income for each dependent will automatically increase according to the Consumer Price Index. Each year, a taxpayer may deduct from their Missouri taxable income, $1,200 plus an additional amount equal to $1,200 multiplied by the percentage by which the Consumer Price Index for that year exceeds the Consumer Price Index for the 2016 calendar year.
DOMENIC SITA