HB 456 Coleman, Jeff
HB 456 -- INCOME TAX
SPONSOR: Coleman
Currently, taxpayers with certain filing status and adjusted gross income below certain thresholds are allowed to deduct 100% of certain retirement and Social Security benefits from the taxpayer's Missouri adjusted gross income, with a reduced deduction as the taxpayer's adjusted gross income increases. For all tax years beginning on or after January 1, 2024, this bill allows the maximum deduction to all taxpayers regardless of filing status or adjusted gross income.
The bill defines "benefits" on or after January 1, 2024, to include any Social Security benefits received by a taxpayer, regardless of age, including retirement, disability, survivors, and supplemental benefits.
This bill is similar to HB 2853 (2022).