HB 381 -- Income Exemption for First $50,000 and Property Tax
Deduction for Certain Taxpayers

Sponsor:  Wildberger

This bill authorizes a deduction from an individual's income tax
for real property taxes paid and exempts the first $50,000 from
income tax for a taxpayer who is a resident of this state and is
no longer gainfully employed if at least 75% of the taxpayer's
income is from investments, annuities, pensions, retirement
benefits, or Social Security benefits.

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

Missouri House of Representatives
94th General Assembly, 1st Regular Session
Last Updated July 25, 2007 at 11:19 am