Missouri HB3294 proposes an income tax subtraction for all military income starting from January 1, 2027.
HB3294 amends Missouri's income tax code to introduce a subtraction for all military income starting from January 1, 2027. This subtraction applies to all military income received by a taxpayer, regardless of their duty status or filing status. The bill defines "military income" as all taxable pay, benefits, and allowances received by a member or former member of the uniformed services, including basic pay, retirement benefits, and compensation in any form for military service.
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