Missouri HB2561 modifies income tax exemptions for various organizations and individuals.
Missouri HB2561 modifies provisions governing income exempt from earnings tax. The bill exempts income from certain organizations and individuals from earnings tax. These include labor, agricultural, and horticultural organizations, mutual savings banks, fraternal-beneficiary societies, domestic building and loan associations, credit unions, cemetery companies, religious, charitable, scientific, or educational corporations, clubs, farmers or mutual insurance companies, and others.
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