Modifies provisions relating to the calculation of income tax, repealing income tax subtractions for certain capital gains

Summary

The bill revises how Missouri adjusts federal adjusted gross income for state tax purposes. It adds items such as certain federal tax refunds, interest on specific government obligations, and some net‑operating‑loss deductions, while eliminating particular capital‑gain subtractions and other deductions. The changes would affect individual and non‑resident taxpayers who claim those items on their Missouri returns.

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