Missouri SB1063 authorizes an income tax deduction for certain survivor benefits.
Missouri SB1063 modifies the state's income tax law to allow a deduction for certain survivor benefits. This bill specifies that one hundred percent of any retirement benefits received by a taxpayer, including any survivor benefits derived from such retirement, as a result of the taxpayer's service in the Armed Forces of the United States, including reserve components and the National Guard, is subtracted from the taxpayer's federal adjusted gross income.
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