SB1191

Exempts families with three or more children from Missouri income tax starting in 2027.

The bill, known as the "Next Generation Family Act," exempts from Missouri income tax any family with three or more children for which the taxpayer is entitled to a federal dependency exemption. This exemption applies to all tax years beginning on or after January 1, 2027. The Department of Revenue is tasked with creating rules to implement this exemption, which must comply with state administrative procedures.