Supplement: MO SB1138 | 2022 | Regular Session | Summary: Introduced
For additional supplements on Missouri SB1138 please see the Bill Drafting List
Bill Title: Authorizes a tax credit for all taxpayers
Status: 2022-03-31 - Hearing Conducted S Ways and Means Committee [SB1138 Detail]
Download: Missouri-2022-SB1138-Summary_Introduced.html
Bill Title: Authorizes a tax credit for all taxpayers
Status: 2022-03-31 - Hearing Conducted S Ways and Means Committee [SB1138 Detail]
Download: Missouri-2022-SB1138-Summary_Introduced.html
SB 1138 - This act establishes the "It's Your Money Act".
For the 2021 tax year, this act allows a taxpayer to receive a tax credit in the amount of $500. The Department of Revenue shall automatically apply the tax credit authorized by this act to a taxpayer's tax liability, and a taxpayer shall not be required to apply for such tax credit or to amend a return to claim such tax credit.
Tax credits authorized by this act shall be refundable, and such refunds shall be remitted to a taxpayer no later than June 1, 2022.
The provisions of this act shall expire on December 31, 2022.
This act contains an emergency clause.
JOSH NORBERG
