HB 225 -- Income Tax Deduction for Social Security and Retirement
Benefits

Sponsor:  Nance

Beginning January 1, 2007, this bill authorizes an income tax
deduction for any Social Security benefits received, regardless
of age or income.

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.  The bill increases the $6,000 allowance to $18,000
subject to the income limitations.

Missouri House of Representatives
94th General Assembly, 1st Regular Session
Last Updated July 25, 2007 at 11:18 am