HB 934 -- Income Tax: Pension Deduction

Sponsor:  Moore

Under current law, public and private entity retirees may deduct
up to $6,000 of pension allowances received each year if their
income is not in excess of $32,000 for married or $25,000 for
single taxpayers.  This bill removes the income limitation when a
taxpayer reaches the age of 65 years, allowing the full $6,000 of
retirement benefits to be deducted from state income tax
regardless of income.  Taxpayers under the age of 65 years will
still be allowed the $6,000 benefit deduction subject to the
income limitations.

Missouri House of Representatives
92nd General Assembly, 2nd Regular Session
Last Updated September 23, 2004 at 11:14 am