Loading chat...
MO HB930
Bill
Status
Introduced
3/30/2011
Primary Sponsor
Jeanette Oxford
Click for details
AI Summary
- Repeals the deduction for federal income tax liability under Missouri state income tax, effective January 1, 2012
- Individual taxpayers previously could deduct up to $5,000 on single returns or $10,000 on combined returns of federal income tax paid in the same tax year
- Corporate taxpayers previously could deduct 50 percent of federal income tax liability paid in the same tax year
- Deduction remains available for tax years ending on or before December 31, 2011
- Allows taxpayers to deduct previously unpaid federal tax liabilities from prior years in the year they are actually paid or accrued
Legislative Description
Eliminates the state income tax deduction for federal income tax liability beginning January 1, 2012
Last Action
Referred: Tax Reform (H)
4/12/2011
Committee Referrals
Tax Reform4/12/2011
Full Bill Text
No bill text available