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MO SB462

Bill

Official Source

Status

Introduced

2/19/2015

Primary Sponsor

Kurt Schaefer

Click for details

Origin

Senate

2015 Regular Session

AI Summary

  • Creates a new Missouri state income tax deduction for amounts paid under Section 5000A of the Internal Revenue Code (the Affordable Care Act's individual mandate penalty for not having health insurance)

  • Deduction is subtracted from Missouri adjusted gross income to determine Missouri taxable income

  • Applies to the tax year in which the penalty payment is made

  • Adds new section 143.845 to Chapter 143 of Missouri Revised Statutes

Legislative Description

Creates an income tax deduction for certain penalties assessed under the Affordable Care Act and paid on a federal return

Last Action

Voted Do Pass S Ways and Means Committee

4/16/2015

Committee Referrals

Ways And Means And Fiscal Oversight3/5/2015

Full Bill Text

No bill text available