MO SB1575

Allows individuals to subtract 100% of capital gains from Missouri adjusted gross income starting January 1, 2025

Extends the 100% capital gains subtraction to business entities (taxed under section 143.071) once the top individual income tax rate falls to 4.5% or below

Beginning January 1, 2026, expands the definition of "capital gain" to include depreciation recapture income that would otherwise be treated as capital gains under federal law (26 U.S.C. Sections 1245 and 1250)

Exempts capital gains on the sale or exchange of specie (gold, silver, and other precious metals) from Missouri income tax starting January 1, 2026

Allows resident estates and trusts to subtract 100% of capital gains from Missouri taxable income beginning January 1, 2026