Authorizes an income tax subtraction for all military income

HB 3294 would allow Missouri taxpayers to subtract military income earned while serving in a combat zone from their state taxable income. This provision applies to income included in federal adjusted gross income but not otherwise excluded, specifically covering service in areas designated by the President as combat zones. The subtraction would reduce the taxable income subject to Missouri's income tax for qualifying military personnel. The bill is currently under legislative consideration after being introduced and read for the second time.