HB 1788 -- Earned Income Tax Credit

Sponsor:  Oxford

This bill authorizes a state individual income tax credit equal
to a percentage of any earned income tax credit claimed by the
taxpayer on his or her federal income tax return.  The percentage
of the federal credit allowed will be 5% for tax years 2007 and
2008, 10% for tax years 2009 and 2010, and 20% for tax years 2011
and thereafter.  Any credit which exceeds the taxpayer's
liability in any tax year will be refunded to the taxpayer or
carried forward into future tax years.  The Department of Revenue
is required to notify potentially eligible taxpayers that they
may be able to receive the tax credit.

The provisions of the bill will expire six years from the
effective date.

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