Tax Bills On Social Security Heard In Missouri House Special Committee

(MISSOURINET) – A pair of bills looking to eliminate taxing social security benefits is being considered by the Missouri House Special Committee on Tax Reform. Representative David Evans of West Plains says Missouri needs to follow the trend of other U.S. states exempting social security benefits from taxation…

Missouri is one of 11 states taxing some or all of their residents’ social security benefits. Representative Michael O’Donnell, the sponsor of a similar bill, says that eliminating taxes for social security benefits would provide stability to the economy. Currently, Missouri allows 100-percent social security exemption as long as the taxpayer is 62 years or older and makes under $85,000, as a single filer, or $100,000 when filing jointly.