HB 1407 -- Income Tax:  Earned Income Tax Credit

Co-Sponsors:  Riback Wilson (25), Berkowitz, Boucher, Bray,
Farnen, Fraser, Harding, Harlan, Hosmer, Kelly (27), Ostmann,
Reynolds, Scheve, Walton, Froelker, Skaggs

This bill allows a state individual income tax credit equal to a
percentage of any earned income tax credit claimed by the
taxpayer on the federal income tax return.  The percentage of the
federal credit allowed will be 10% for tax year 2003, 15% for tax
year 2004, and 20% for tax year 2005 and thereafter.  Any amount
of credit which exceeds the taxpayer's liability in any tax year
will be refunded to the taxpayer or carried forward into future
tax years.

Missouri House of Representatives
Last Updated October 11, 2002 at 9:01 am