Missouri DOR Announces Individual Income Tax Year Changes to Rates, Credits, Deductions Effective Jan. 1

The Missouri Department of Revenue Oct. 1 announced individual income tax changes, effective Jan. 1, reflected on 2020 Missouri Individual Income Tax Returns. The changes include: 1) the April 15, 2021, due date for state individual income tax returns; 2) tax rates changes indexed for inflation; 3) changes to 2019 tax year standard deduction amounts and the new reserves and inactive duty military deduction; 4) the expiration of the Processed Wood Energy Tax Credit on June 30, and reauthorization of the Pediatrics Cancer Research trust fund until Dec. 31, 2024; and 5) the expansion of the net operating loss carryback ...