Modifies provisions relating to capital gains taxes

Taxes

Passed Legislature

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

Sponsor: Crawford, Sandy; House handler: N/A
Last action: 2026-03-11
Official status: Hearing Conducted S Economic and Workforce Development 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

2026-03-11 Missouri House of Representatives and Missouri Senate
Hearing Conducted S Economic and Workforce Development Committee
2026-02-05 S309
Second Read and Referred S Economic and Workforce Development Committee
2026-01-20 S201
S First Read

Official Summary Text

The following summaries of this bill are available:

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Introduced

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SB 1575 - Current law authorizes an income tax deduction for 100% of income reported as a capital gain for federal income tax purposes. This act provides that depreciation that has been deducted for federal tax purposes but recovered upon the sale of the asset, and thus treated as ordinary income for federal tax purposes, shall be considered a capital gain and excluded from income tax for state tax purposes. (Section 143.121)

The act also applies such capital gains tax provisions to the taxable income of a resident estate or trust. (Section 143.341)

This act is identical to HB 2945 (2026).
JOSH NORBERG