Missouri SB1231: Authorizes an income tax deduction for certain research expenses

What the bill says

From the introduced text:

SECOND REGULAR SESSION SENATE BILL NO. 1231 103RD GENERA L ASSEMBLY INTRODUCED BY SENATOR FITZWATER. 4495S.01I KRISTINA MARTIN, Secretary To repeal section 143.121, RSMo, and to enact in lieu thereof one new section relating to an income tax deduction for certain research expenses. Section A. Section 143.121, RSMo, is repealed and one new section enacted in lieu thereof, to be known as section 143.121, to read as follows: 143.121. 1. The Missouri adjusted gross income of a resident individual shall be the taxpayer's federal adjusted gross income subject to the modifications in this section. 2. There shall be added to the taxpayer's federal adjusted gross income: (1) The amount of any federal income tax refund received for a prior year which resulted in a Missouri income tax benefit. The amount added pursuant to this subdivision shall not include any amount of a federal income tax refund attributable to a tax credit reducing a taxpayer's federal tax liability pursuant to Public Law 116136 or 116-260, enacted by the 116th United States Congress, for the tax year beginning on or after January 1, 2020, and ending on or before December 31, 2020, and deducted from Missouri adjusted gross income pursuant to section 143.171. The amount added under this subdivision shall also not include any amount of a federal income tax refund EXPLANATION-Matter …

Read the full official text

Sponsors

• Travis Fitzwater (R, 10) · primary sponsor

Latest actions

1. January 27, 2026: Second Read and Referred S Economic and Workforce Development Committee
2. January 7, 2026: S First Read
3. December 1, 2025: Prefiled

Common questions

What is SB1231?

SB1231 is a bill in the Missouri Legislature (2026 Regular Session): Authorizes an income tax deduction for certain research expenses.

What does SB1231 do?

SB 1231 - Federal law requires taxpayers to amortize the deduction for research and experimental expenses over a period of years. This act allows a taxpayer to deduct the full amount of such expenses for the taxpayer's state income taxes during the tax year in which they were incurred. This act is identical to SB 349 (2025), HB 136 (2025), SB 1365 (2024), and HB 2457 (2024), and to a provision in HCS/HB 1427 (2024). JOSH NORBERG

What is the status of SB1231?

In committee as of January 27, 2026. Latest action: Second Read and Referred S Economic and Workforce Development Committee (January 27, 2026).

Who sponsored SB1231?

Travis Fitzwater (R, 10).

Where is the official record for SB1231?

On the Missouri Legislature website: https://www.senate.mo.gov/BillTracking/Bills/BillInformation?year=2026&billid=142