Individual Income Tax Year Changes

2020 Legislative Session

The following changes are effective for the tax year beginning January 1, 2020, and will be reflected on the 2020 Missouri Individual Income Tax Returns.

Due Date

The due date for the 2020 Missouri Individual Income Tax Return is April 15, 2021.

Tax Rate Changes-Indexed for Inflation

    If the Missouri taxable income is...
    The tax is...
    $0 to $106 $0
    At least $107 but not over $1,073 1.5% of the Missouri taxable income
    Over $1,073 but not over $2,146 $16 plus 2.0% of excess over $1,073
    Over $2,146 but not over $3,219 $37 plus 2.5% of excess over $2,146
    Over $3,219 but not over $4,292 $64 plus 3.0% of excess over $3,219
    Over $4,292 but not over $5,365 $96 plus 3.5% of excess over $4,292
    Over $5,365 but not over $6,438 $134 plus 4.0% of excess over $5,365
    Over $6,438 but not over $7,511 $177 plus 4.5% of excess over $6,438
    Over $7,511 but not over $8,584 $225 plus 5.0% of excess over $7,511
    Over $8,584 $279 plus 5.4% of excess over $8,584

     

Missouri Standard Deduction

Missouri’s standard deduction is equal to the federal standard deduction. Below are the standard deduction amounts that changed for the 2019 tax year:

  • Single - $12,400
  • Married Filing Combined - $24,800
  • Married Filing Separate - $12,400
  • Head of Household - $18,650
  • Qualified Widow(er) - $24,800

Revision to Current Tax Credits

  • Processed Wood Energy Tax Credit - This tax credit expired on Jue 30, 2020

Trust Funds

  • Pediatrics Cancer Research - This tax donation was reauthorized until December 31, 2024.

Reserves and Inactive Duty Military Deduction

Beginning with tax year 2020, Military personnel may deduct a portion of their income earned from the following sources from their Missouri adjusted gross income:

  • National Guard Inactive Duty Training (IDT)
  • National Guard Annual Training (AT)
  • Reserve components of the Armed Forces.

The following reflects the percentage of Military reserve or inactive duty income that may be deducted in each applicable tax year:

  • 2020 - 20%
  • 2021 - 40%
  • 2022 - 60%
  • 2023 - 80%
  • 2024 - 100%

Net Operating Loss (NOL) Carrybacks

  • The CARES Act (Public Law 116-136) expanded the NOL carryback period to 5 years for losses incurred in 2018, 2019, and 2020. However, on the Missouri tax return, taxpayers must add back into taxable income any NOL that is carried back more than 2 years from the loss year. A NOL that was added back into taxable income may then be carried forward to a tax year after the loss year (up to 20 years). For further details, see section 143.121.2(4) of the Missouri Revised Statutes.