SB936

Reauthorizes an income tax deduction for contributions to long-term dignity savings accounts in Missouri.

Missouri SB936 reauthorizes an income tax deduction for contributions to long-term dignity savings accounts, allowing taxpayers to deduct 100% of their contributions. The deduction cannot exceed the taxpayer's Missouri adjusted gross income for the tax year. Contributions and earnings from these accounts are exempt from state income tax. The deduction is capped at $4,000 per taxpayer or $8,000 for married couples filing jointly. The program will automatically sunset on December 31, 2031, unless reauthorized by the general assembly.