SB 847 - Eigel, Bill
Modifies provisions relating to income tax exemptions for certain retirement benefits
Bill Details
Sponsor
LR Number
4616S.01I
Title
SB 847
House Handler
N/A
Journal Page
N/A
Effective Date
August 28, 2020
Committee
Current Status
Hearing Cancelled S Ways and Means Committee
Quick Links
Amendments
No amendments available
CURRENT BILL SUMMARY
SB 847 - 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, 2021, this act allows the maximum deduction to all taxpayers regardless of filing status or adjusted gross income.
This act is identical to HB 1725 (2020).
JOSH NORBERG