SB 25 – Creates a tax credit based on the number of the taxpayer's dependent children

• Sponsor: Sater
• LR Number: 0450S.01I
• Committee: Ways and Means
• Last Action: 4/2/2015 - SCS Voted Do Pass S Ways and Means Committee (0450S.02C)
• Effective Date: August 28, 2015

Current Bill Summary

SCS/SB 25 - Currently, Missouri residents with dependent children may receive an income tax exemption of $1,200 per child. This act creates an additional $1,300 exemption per dependent child for certain taxpayers. Taxpayers with a filing status other than married filing combined must have a Missouri adjusted gross income of $70,000 or less to qualify. Taxpayers with a filing status of married filing combined must have a combined Missouri adjusted gross income of $140,000 or less to qualify.

MIKE HAMMANN