Bill > SB1032

This bill proposes to create a new income tax deduction for certain dependents, effective for tax years beginning on or after January 1, 2027. Specifically, it allows taxpayers to deduct an additional $2,400 for each child born or adopted during the tax year for whom they are eligible for a federal dependency exemption, even if the federal exemption amount is zero. This new deduction can only be claimed for the tax year the child is born or adopted and cannot be claimed for the same child under existing deduction provisions for other dependents or for stillbirths. The deduction can be claimed by the parent who gives birth or adopts, their spouse if filing jointly, or any other taxpayer eligible for the federal dependency exemption for that child.

Budget and Finance, Labor and Employment

https://www.senate.mo.gov/BillTracking/Bills/BillInformation?year=2026&BillID=384