SB1032

Missouri SB1032 creates an income tax deduction for certain dependents, including stillborn children and elderly dependents.

Missouri SB1032 amends the state's income tax code to introduce a deduction for certain dependents. For each dependent, a taxpayer can deduct $1,200, with an additional $1,400 for surviving spouses. For stillborn children, a deduction of $1,200 is allowed in the year of the stillbirth. Elderly dependents who reside in the taxpayer's home or do not receive Medicaid or state funding can receive an additional $1,000 deduction. Starting from 2027, taxpayers can also deduct $2,400 for each child born during the tax year.