HCS HB 64 & 545 -- INDIVIDUAL INCOME TAXES (Lipke)

COMMITTEE OF ORIGIN:  Committee on Ways and Means

Beginning January 1, 2010, this substitute revises the Missouri
individual income tax rate schedule, increases the dependency
exemption to $1,600 per dependent, and increases the federal tax
deduction for the individual income tax from $5,000 to $7,500 for
single taxpayers and from $10,000 to $15,000 for married
taxpayers.

FISCAL NOTE:  Estimated Cost on General Revenue Fund of $0 in FY
2010, $366,500,000 in FY 2011, and $366,500,000 in FY 2012.  No
impact on Other State Funds in FY 2010, FY 2011, and FY 2012.

Missouri House of Representatives
95th General Assembly, 1st Regular Session
Last Updated November 17, 2009 at 9:23 am