HB1746 Increases the personal and dependency income tax exemptions in an amount equal to the federal amount and requires the director of revenue to develop income tax return cards for non-itemizers.
Sponsor: Marble, Gary (130) Effective Date:00/00/0000
CoSponsor: LR Number: 3352L.01I
Last Action: 02/03/2000 - Referred: Ways and Means (H)
HB1746
Next Hearing:Hearing not scheduled
Calendar:Bill currently not on calendar
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* Introduced

Available Bill Text for HB1746
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BILL SUMMARIES

INTRODUCED

HB 1746 -- Income Tax:  Personal and Dependency Deductions

Sponsor:  Marble

This bill makes the personal exemption and dependency deduction
equal to the amount of exemption and deduction allowed under
federal law.  Under current Missouri law, the personal exemption
is $2,100 for a single taxpayer, $4,200 for a married taxpayers,
and $3,500 for head of household.  The dependent deduction is
$1,200 for each dependent.  The current federal allowance for
personal exemption and dependents is $2,750 for each person and
each dependent.  The federal amount is indexed each year for
inflation.

The bill also requires the Director of Revenue to create an
income tax return card, no larger than 5" x 7", for non-itemized
returns.


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