SPONSOR: Owen
Currently contributions to any section 529 qualified tuition program are exempt from state tax.
Under this bill, annual contributions made only to the Missouri Higher Education Deposit Program under Section 166.500, RSMo, or the Missouri Education Program established under Sections 166.400 to 166.455, or both, can be subtracted for determining the Missouri adjusted gross income, up to $8,000 per taxpayer, and up to $16,000 for married individuals filing a joint tax return.
This bill is similar to HB 1272 (2025).
Statutes affected: