SECOND REGULAR SESSION
SENATE BILL NO. 972
89TH GENERAL ASSEMBLY
INTRODUCED BY SENATORS MAXWELL AND JOHNSON.
Read 1st time February 26, 1998, and 1,000 copies ordered printed.
TERRY L. SPIELER, Secretary.
S4027.01I
AN ACT
To repeal section 143.111, RSMo 1994, relating to income tax deduction for certain contributions, and to enact in lieu thereof two new sections relating to the same subject, with an effective date.
Section A. Section 143.111, RSMo 1994, is repealed and two new sections enacted in lieu thereof, to be known as sections 143.111 and 143.173, to read as follows:
143.111. The Missouri taxable income of a resident shall be his Missouri adjusted gross income less: (1) either: the Missouri standard deduction or the Missouri itemized deduction, (2) the Missouri deduction for personal exemptions, (3) the Missouri deduction for dependency exemptions, (4) the deduction for federal income taxes provided in section 143.171, and (5) the deduction for contributions to religious institutions provided in section 143.173.
143.173. In addition to the amounts to be subtracted from a resident's Missouri adjusted gross income to determine Missouri taxable income under the provisions of section 143.111, there shall be subtracted the amount the taxpayer has paid as charitable contributions, other than those which the taxpayer has taken as an itemized deduction on his or her federal income tax return for that taxable year, to any church, religious society or religious institution recognized as a charitable or religious institution pursuant to federal law.
Section B. Sections 143.111 and 143.173 of this act shall become effective January 1, 1999, and shall apply to all taxable years after December 31, 1998.