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SB1287 • 2026

Modifies provisions relating to an income tax deduction for certain retirement benefits

Modifies provisions relating to an income tax deduction for certain retirement benefits

Taxes
Passed Legislature

This bill passed both chambers and reached final enrollment, even if later executive action is not shown here.

Sponsor
Gregory (15), David; House handler: N/A
Last action
2026-01-27
Official status
Second Read and Referred S Local Government, Elections and Pensions Committee
Effective date
2026-08-28

Plain English Breakdown

The plain English breakdown is still being put together. The official documents below are already here.

Bill History

  1. 2026-01-27 S241

    Second Read and Referred S Local Government, Elections and Pensions Committee

  2. 2026-01-07 S78

    S First Read

  3. 2025-12-01 Missouri House of Representatives and Missouri Senate

    Prefiled

Official Summary Text

The following summaries of this bill are available:

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Introduced

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SB 1287 - Current law authorizes a taxpayer to deduct a maximum of the first $6,000 of any retirement allowance received from any privately funded sources if the taxpayer's Missouri adjusted gross income is less than $25,000 if filing single, $32,000 if filing married combined, or $16,000 if filing married separately. For all tax years beginning on or after January 1, 2027, this act increases such deduction to $12,000 and increases the income thresholds to $50,000, $64,000, and $32,600, respectively.

This act is identical to SB 620 (2025), HB 44 (2025), and HB 2657 (2024), and to a provision in HCS/SS/SB 898 (2024), and is substantially similar to HB 1423 (2024), SB 241 (2023), SB 448 (2023), SB 585 (2023), HB 156 (2023), HB 456 (2023), HB 662 (2023), HB 1206 (2023), SB 871 (2022), HB 2853 (2022), SB 157 (2021), SB 847 (2020), and HB 1725 (2020), and to provisions in HCS/SS#3/SCS/SB 131 (2023), SS/SB 190 (2023), HCS/SB 247 (2023), HS/HCS/HB 356 (2023), and SCS/HCS#2/HB 713 (2023).
JOSH NORBERG