HB 1649 -- Income Tax Deduction for Pensions

Sponsor:  Moore

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

Missouri House of Representatives
93rd General Assembly, 2nd Regular Session
Last Updated November 29, 2006 at 9:44 am