MO HB1227

Repeals and re-enacts section 143.161, RSMo, to modify Missouri dependency exemption deductions for resident taxpayers.

Maintains $1,200 dependency exemption deduction per dependent for taxable years ending on or before December 31, 2009.

Increases dependency exemption deduction to $2,000 per dependent for all taxable years beginning on or after January 1, 2010.

Allows an additional $1,000 deduction for dependents age 65 or older who reside in the taxpayer's home, their own home, or in a licensed facility without receiving Medicaid or state funding.

Permits an additional $1,400 deduction for residents qualifying as unmarried head of household or surviving spouse for federal income tax purposes for taxable years beginning on or after January 1, 1999.