2002 Initiative Petition Approved for Circulation in Missouri
2002-19 RE: Standard of Living
||Blitz Bardgett & Deutsch Attorneys at Law
308 East High Street, suite 301
Jefferson City, Missouri 65101-3237
Contact Dan Goe, 515 Eastholm Mexico, Missouri 65265, for further information.
Petition sample form approved for circulation on November 30, 2001.
Official ballot title certified by Secretary of State on October 31, 2001.
Be it enacted by the people of the State of Missouri:
That section 143.131, RSMo be amended as follows:
143.131.1 The Missouri standard of living deduction may be deducted in determining Missouri taxable income of a resident individual unless the taxpayer or his spouse has elected to itemize his deduction as provided in section 143.141.
2. The Missouri standard of living deduction shall be [the allowable federal standard deduction.]eight thousand six hundred twelve dollars for all taxable years beginning January 1, 2003.
3. The Missouri standard of living deduction for all taxpayers filing a joint federal income tax return, including a qualified widow/widower, shall be seventeen thousand two hundred twenty-four dollars for all taxable years beginning January 1, 2003.
4. The Missouri standard of living deduction contained in this section, shall be increased by the cumulative increase in the consumer price index, as defined in section 104.010, RSMo, for each taxable year beginning January 1, 2004.