HB 1300 -- 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 5% for tax years 2006 and 2007,
10% for tax years 2008 and 2009, and 20% for tax year 2010 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.

The provisions of the bill will expire six years from the
effective date.

Missouri House of Representatives
92nd General Assembly, 2nd Regular Session
Last Updated September 23, 2004 at 11:15 am