HB 171 -- Income Tax:  Social Security/Military Pension
Deductions

Sponsor:  Froelker

This bill authorizes the subtraction from a taxpayer's federal
adjusted gross income of any amount of Social Security benefits
included when calculating their Missouri adjusted gross income.

Under current law, annuities, pensions, retirement allowances,
and other retirement benefits provided to any person for
military service are subject to a limited state income tax
deduction of up to $6,000 of the benefits paid based on the
income of the taxpayer.  The bill will exempt from state income
tax the total military pension benefits received, regardless of
income or the amount.

The bill will become effective January 1, 2002.

Missouri House of Representatives
Last Updated November 26, 2001 at 11:42 am