Modifies provisions relating to income tax deductions for private pensions

Summary

The bill would change Missouri’s rules for deducting retirement income, setting caps that vary by year, filing status, and adjusted gross income. It applies to individuals receiving private pensions, 401(k)s, IRAs, and similar plans, as well as to Social Security benefits. The changes could increase taxable income for many retirees, especially higher‑earning ones.

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