SB 1575 Missouri Senate · 2026 Regular Session

Modifies provisions relating to capital gains taxes

Summary

SCS/SB 1575 - Current law authorizes an income tax deduction for 100% of income reported as a capital gain for federal income tax purposes. The act also applies such capital gains tax provisions to the taxable income of a resident estate or trust. This act is substantially similar to HB 2945 (2026). JOSH NORBERG

Issues: ✓ Budget & Taxes

Bill status in committee 1 of 4 stages cleared

Introduction

Jan 2026

Committee Review

Floor Vote

Governor

Introduced Jan 20, 2026 Last action Apr 29, 2026

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What changed between versions

6743S.02I - Introduced → Senate Committee Substitute - Committee Version · 3 edits

MINOR

The bill was rewritten to simplify its scope, now focusing only on repealing one specific tax section (143.341) regarding estates and trusts rather than two sections covering individuals and trusts. A new provision was added to exempt 100% of capital gains from Missouri taxation for estates and trusts starting in 2026, provided these gains do not affect federal distributable net income.

Scope change

The bill's scope was significantly narrowed from applying to individual residents and trusts to applying exclusively to resident estates and trusts.

SCOPE

The bill was changed to repeal only section 143.341 instead of sections 143.121 and 143.341, removing rules that previously applied to individual residents.

ELIGIBILITY

A new rule was added to exempt 100% of capital gains from Missouri taxation for estates and trusts for tax years beginning on or after January 1, 2026.

REQUIREMENT

The new capital gains exemption only applies if the gains are not considered determinants of the estate's or trust's federal distributable net income.

Floor votes

How they voted

No floor votes recorded yet.

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Apr 29, 2026

Upper · Passed

SCS Voted Do Pass S Economic and Workforce Development Committee (6743S.04C)

upper

Mar 11, 2026

Upper · Passed

Hearing Conducted S Economic and Workforce Development Committee

upper

1 primary · 0 co-sponsors