Modifies provisions relating to income tax on tips

HB 198 corrects a mislabeled title - this bill modifies Missouri's income tax calculation rules, not tip taxation. It adjusts taxpayers' federal adjusted gross income (AGI) to determine Missouri taxable income by adding specific federal tax benefits (like refunds from pandemic-related credits) and subtracting certain exclusions (like interest on U.S. bonds). Key provisions include adding back federal tax refunds that created Missouri tax savings and adjusting depreciation deductions for property purchased in 2002-2003. This directly affects Missouri taxpayers who claimed federal tax benefits impacting their state tax liability, such as pandemic relief refunds or property tax deductions. The changes ensure Missouri tax calculations align with federal adjustments while excluding certain pandemic-related credits.