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MO HB174
Bill
Status
1/7/2015
Primary Sponsor
Brandon Ellington
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AI Summary
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Creates a one-month annual exemption from state income tax withholding for all Missouri employees, beginning January 1, 2016
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Department of Revenue must analyze historical withholding data to identify the month with the lowest tax collections, which becomes the designated "tax holiday" month
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Exemption applies only to state income tax withholding (sections 143.191-143.265) and does not affect other required withholdings or available deductions
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Program automatically sunsets 6 years after the effective date unless reauthorized by the General Assembly; if reauthorized, sunsets again after 12 years
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Department of Revenue granted authority to promulgate rules for implementation, subject to Chapter 536 administrative procedures
Legislative Description
Establishes the Missouri Supporting Families Income Tax Holiday Act which allows an exemption from state withholding taxes for state employees in a specified month determined by the Department of Revenue
Last Action
Referred: Ways and Means(H)
5/15/2015