Missouri State Tax Information: Answers to Basic Questions About Filing Taxes in Missouri

With the start of the New Year comes the beginning of tax season. Here are some frequently asked questions for filers in the state of Missouri.

Missouri Tax Question #1: What are the minimum filing requirements in Missouri?

This answer depends on your marital status and income levels, which will differ from federal levels. You do not have to file a Missouri return if you do not have to file a federal one, and you may not have to file a Missouri return even if you do file a federal return. For someone filing single, the federal AGI (adjusted gross income) is $8,450 while the Missouri AGI is $7,250. For married persons filing joint returns, double those amounts.

Missouri Tax Question #2: Which tax form should I use?

Missouri has simplified short forms that may be used as long as certain requirements are met. For example, form MO-1040A is used by any filing status, but only a one-income earner, with all income earned in Missouri. Form MO-1040B is used by married persons filing joint returns. Both of these forms mandate that filers do not have any tax credits or modifications to their income.

Missouri Tax Question #3: What are my personal exemption amounts?

The amount of personal exemptions in Missouri differs from the federal amount, even though filing status must be the same on both your Missouri tax return and federal tax return. The 2006 federal personal exemption is $3,300. In Missouri, for someone filing single the personal exemption amount is $2,100. That amount is doubled for married persons filing joint returns.

Missouri Tax Question #4: What is my standard deduction?