Bill > SB371

This bill modifies Missouri state income tax deductions for dependents by expanding existing provisions and adding a new deduction. Specifically, the bill maintains the current $1,200 tax deduction for dependents for whom the taxpayer is entitled to a federal dependency exemption, with an additional $1,000 deduction for dependents over 65 years old who live in the taxpayer's home or their own home and do not receive Medicaid or state funding. The bill also preserves an existing $1,400 additional deduction for unmarried heads of household or surviving spouses. Starting January 1, 2026, the bill introduces a new $2,400 tax deduction for each child born during the tax year for whom the taxpayer has a federal dependency exemption. This new deduction can only be claimed in the year of the child's birth and cannot be combined with other dependent exemptions for the same child. The bill also maintains a provision allowing a tax exemption for stillborn children in the year the stillbirth occurred. These changes aim to provide additional tax relief for Missouri residents with dependents, particularly families with newborn children.

Labor and Employment

https://www.senate.mo.gov/25info/BTS_Web/Bill.aspx?SessionType=R&BillID=509