- Introduced -

SB 262 - This act exempts social security benefits as well as public and private pensions and retirement benefits from Missouri income tax. Under the current law, a portion of these retirement benefits are exempted, with limitations on the amount of the exemption and those who qualify for the exemptions. This act removes those limitations and provides that after December 31, 2003, all of such retirement benefits shall be included as a subtraction to federal adjusted gross income on the Missouri personal income tax return.

JEFF CRAVER