Bill > SB1063

This bill modifies Missouri's income tax laws to include a provision that allows 100% of retirement benefits, including survivor benefits derived from military service, to be subtracted from an individual's adjusted gross income. Specifically, the bill expands the existing tax deduction for retirement benefits received by individuals who served in the Armed Forces, including reserve components, the National Guard, and other military forces organized under state law. The modification means that these retirement and survivor benefits will not be subject to state income tax, providing a financial benefit to military veterans and their families. This change applies to all tax years and represents a significant tax exemption for military service-related retirement income, potentially offering meaningful financial support to military families who have lost a service member.

Military Affairs and Security

https://www.senate.mo.gov/26info/BTS_Web/Bill.aspx?SessionType=R&BillID=101