HB2457--TAXDEDUCTIONS
SPONSOR: Justus
Currently,Missouritaxpayersareunabletodeductcertainresearch
andexperimentation expendituresfromtheiradjustedgrossincome
fortaxpurposes. Thislimitationisaresultofthefederal"Tax
CutsandJobsAct"of2017.
Thisbillde-couplesMissourifromtheprovisionsofthefederal
law,andallowstaxpayerstodeductspecifiedresearchand
experimentalexpendituresfromtheirfederaladjustedgrossincome,
beginningwiththe2022taxyear.