SECOND REGULAR SESSION

HOUSE BILL NO. 1751

90TH GENERAL ASSEMBLY


INTRODUCED BY REPRESENTATIVE PATEK.

Read 1st time January 26, 2000, and 1000 copies ordered printed.

ANNE C. WALKER, Chief Clerk

3305L.01I


AN ACT

To repeal section 143.131, RSMo 1994, relating to income taxation, and to enact in lieu thereof one new section relating to the same subject.




Be it enacted by the General Assembly of the state of Missouri, as follows:

Section A. Section 143.131, RSMo 1994, is repealed and one new section enacted in lieu thereof, to be known as section 143.131, to read as follows:

143.131. 1. The Missouri standard deduction may be deducted in determining Missouri taxable income of a resident individual unless the taxpayer or [his] the taxpayer's spouse has elected to itemize his or her deduction as provided in section 143.141.

2. For tax years beginning before January 1, 2000, the Missouri standard deduction shall be the allowable federal standard deduction for all resident individuals. For tax years beginning on or after January 1, 2000, the Missouri standard deduction for resident individuals with a filing status of head of household or single shall be the allowable federal deduction and the Missouri standard deduction for resident individuals with a filing status of married filing combined or married filing separate shall be increased as follows:

(1) For resident individuals with a filing status of married filing separate, by the difference between the federal standard deduction for individuals with a filing status of single and the federal standard deduction for individuals with a filing status of married filing separate, and, for individuals with a filing status of married filing combined, by the difference between twice the federal standard deduction for individuals with a filing status of single and the federal standard deduction for individuals with a filing status of married filing combined; and

(2) For individuals with a filing status of married filing separate, the difference between the maximum amount of federal taxable income allowed to be taxed at the lowest federal tax rate for individuals with a filing status of single and the maximum amount of federal taxable income allowed to be taxed at the lowest federal tax rate for individuals with a filing status of married filing separate first multiplied by the difference between the second lowest federal tax rate and the lowest federal tax rate and then divided by the maximum tax rate imposed on individual taxpayers for the same tax year by this state.



Missouri House of Representatives