The House Budget Committee chairman says Missourians shouldn’t be taxed on federal stimulus checks. Brian Hauswirth spoke with Committee Chairman Cody Smith.
House Budget Committee Chairman Cody Smith of southwest Missouri’s Carthage says under the state’s tax code, federal stimulus checks related to COVID are subject to personal income tax. Smith says Missourians have already paid their share for these stimulus checks. Eligible Americans have been receiving $600 stimulus checks, which are part of the 900-billion dollar stimulus bill signed by former President Trump on December 27.
Smith says under the Missouri tax code, stimulus checks related to COVID-19 are subject to personal income tax.
Unless state lawmakers take action, the federal stimulus checks will cause your state income tax liability to increase. But Chairman Smith is “very optimistic” that lawmakers will approve his bill or a similar version. Smith says Missourians have already paid their share for the $600 stimulus checks.
Chairman Smith tells Missourinet that he’s optimistic that lawmakers will approve his bill or a similar version.