Missouri HB3324 modifies income tax deductions for certain farmers, including changes to capital gains, health insurance premiums, and energy.
Missouri HB3324 modifies provisions related to income tax deductions for certain farmers. It includes changes to capital gains deductions, allowing farmers to subtract certain capital gains from their Missouri adjusted gross income. The bill also modifies the deduction for qualified health insurance premiums, allowing farmers to subtract these premiums from their federal adjusted gross income. Additionally, it allows a deduction for the cost of a home energy audit and the implementation of energy efficiency recommendations.
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