Modifies provisions relating to the taxation of estates and trusts

Missouri's SB 658 modifies how estates and trusts are taxed in the state. It defines Missouri taxable income for resident estates and trusts based on federal taxable income, with specific adjustments. Key changes include: (1) allowing subtraction of excess federal personal exemptions, and (2) for tax years starting January 1, 2026, adding a new subtraction related to how nonresident estates would be treated under state law. These adjustments apply only if they don't affect the federal distributable net income calculation.