Missouri Bill Would Exempt Social Security Benefits from State Income Tax
January 10, 2023 5:55AM CST
Missouri Senate Chamber. Photo by Missouri Senate
(MISSOURINET) – State Senator Tony Luetkemeyer (LOOT-ka-meyer) says Missouri is one of only 11 states in the nation that taxes Social Security benefits. The Republican from northwest Missouri’s Parkville has filed a bill that would exempt those benefits…
The potential cost of this plan is unknown at this time. Missouri has a reported six-billion-dollars in extra cash. Luetkemeyer says he thinks Missouri can afford this plan long-term because most other states have figured out a way to make this work.