HB 458 -- Income Tax:  Earned Income Tax Credit

Sponsor:  Riback Wilson (25)

This bill allows a state individual income tax credit equal to a
percentage of any earned income tax credit claimed by the
taxpayer on the federal income tax return.  The percentage of the
federal credit allowed will be 10% for tax year 2004, 15% for tax
year 2005, and 20% for tax year 2006 and thereafter.  Any amount
of credit which exceeds the taxpayer's liability in any tax year
will be refunded to the taxpayer or carried forward into future
tax years.

The bill also requires the Department of Revenue to notify
potentially eligible taxpayers that they may be able to receive
the earned income tax credit.

Missouri House of Representatives
Last Updated July 25, 2003 at 10:12 am