MO HB720

Allows a taxpayer to claim a dependency exemption deduction for a stillborn child in the taxable year the stillbirth occurred, if the child would have otherwise been a member of the taxpayer's household.

Applies to all taxable years beginning on or after January 1, 2013.

Requires that a certificate of birth resulting in stillbirth has been issued under section 193.165.

Maintains existing deductions of $1,200 for each dependent and an additional $1,000 for dependents age 65 and older meeting specified residency conditions.

Maintains existing deduction of $1,400 for unmarried heads of household or surviving spouses for taxable years beginning on or after January 1, 1999.