diff --git a/.gitignore b/.gitignore index a5b3de97856..4a64f3854e0 100644 --- a/.gitignore +++ b/.gitignore @@ -62,4 +62,7 @@ oryx-build-commands.txt **/*.pkl # Claude Code settings -.claude/settings.local.json \ No newline at end of file +.claude/settings.local.json + +# Claude Code temporary files +tmpclaude-*-cwd \ No newline at end of file diff --git a/changelog_entry.yaml b/changelog_entry.yaml index f8f61c000cc..6d0b49bb6ab 100644 --- a/changelog_entry.yaml +++ b/changelog_entry.yaml @@ -1,4 +1,6 @@ -- bump: minor +- bump: patch changes: - added: - - Add Florida Temporary Cash Assistance (TCA) program. + changed: + - Add 2025 references to all Missouri income tax parameters. + - Add 2025 value for mo_max_social_security_benefit ($48,216). + - Add 2025 test cases for Missouri income tax and capital gains subtraction. diff --git a/policyengine_us/parameters/gov/states/mo/tax/income/credits/property_tax/age_threshold.yaml b/policyengine_us/parameters/gov/states/mo/tax/income/credits/property_tax/age_threshold.yaml index 513c4b56130..a083d765ed7 100644 --- a/policyengine_us/parameters/gov/states/mo/tax/income/credits/property_tax/age_threshold.yaml +++ b/policyengine_us/parameters/gov/states/mo/tax/income/credits/property_tax/age_threshold.yaml @@ -6,6 +6,8 @@ metadata: period: year label: Missouri property tax credit age threshold reference: + - title: 2025 MO-PTC Property Tax Credit Claim + href: https://dor.mo.gov/forms/MO-PTC%20Instructions_2025.pdf#page=1 - title: MO-PTS 2024 Property Tax Credit Schedule href: https://dor.mo.gov/forms/MO-PTS_2024.pdf#page=1 - title: 2023 Form MO-PTS - Property Tax Credit Schedule diff --git a/policyengine_us/parameters/gov/states/mo/tax/income/credits/property_tax/aged_survivor_min_age.yaml b/policyengine_us/parameters/gov/states/mo/tax/income/credits/property_tax/aged_survivor_min_age.yaml index 3a13e8e3762..6f0a2842b64 100644 --- a/policyengine_us/parameters/gov/states/mo/tax/income/credits/property_tax/aged_survivor_min_age.yaml +++ b/policyengine_us/parameters/gov/states/mo/tax/income/credits/property_tax/aged_survivor_min_age.yaml @@ -6,8 +6,10 @@ metadata: period: year label: Missouri property tax credit aged survivor minimum age reference: + - title: 2025 MO-PTC Property Tax Credit Claim + href: https://dor.mo.gov/forms/MO-PTC%20Instructions_2025.pdf#page=1 - title: MO Rev 135.010 - - https://revisor.mo.gov/main/OneSection.aspx?section=135.010&bid=6435 + href: https://revisor.mo.gov/main/OneSection.aspx?section=135.010&bid=6435 # Quote from above legislative reference: # the claimant has reached the age of sixty on or before the # last day of the calendar year and such claimant received diff --git a/policyengine_us/parameters/gov/states/mo/tax/income/credits/property_tax/credit_calculation_base.yaml b/policyengine_us/parameters/gov/states/mo/tax/income/credits/property_tax/credit_calculation_base.yaml new file mode 100644 index 00000000000..e33734990c7 --- /dev/null +++ b/policyengine_us/parameters/gov/states/mo/tax/income/credits/property_tax/credit_calculation_base.yaml @@ -0,0 +1,13 @@ +description: Missouri property tax credit calculation base amount used in the credit formula. +values: + 2008-08-28: 1_100 + 2026-01-01: 1_055 +metadata: + unit: currency-USD + period: year + label: Missouri property tax credit calculation base + reference: + - title: MO Rev Stat § 135.030, effective 2026-01-01 + href: https://revisor.mo.gov/main/OneSection.aspx?section=135.030&bid=57542 + - title: MO Rev Stat § 135.030 + href: https://revisor.mo.gov/main/OneSection.aspx?section=135.030 diff --git a/policyengine_us/parameters/gov/states/mo/tax/income/credits/property_tax/income_offset/joint_owner.yaml b/policyengine_us/parameters/gov/states/mo/tax/income/credits/property_tax/income_offset/joint_owner.yaml index 9bdcf2cac43..094eb7ef580 100644 --- a/policyengine_us/parameters/gov/states/mo/tax/income/credits/property_tax/income_offset/joint_owner.yaml +++ b/policyengine_us/parameters/gov/states/mo/tax/income/credits/property_tax/income_offset/joint_owner.yaml @@ -6,6 +6,8 @@ metadata: period: year label: Missouri income offset for married joint unit that owns house (and paid no rent) reference: + - title: 2025 MO-PTC Property Tax Credit Claim + href: https://dor.mo.gov/forms/MO-PTC%20Instructions_2025.pdf#page=2 - title: MO-PTS 2024 Property Tax Credit Schedule, Line 9 href: https://dor.mo.gov/forms/MO-PTS_2024.pdf#page=2 - title: MO-PTS 2023 Property Tax Credit Schedule, Line 9 diff --git a/policyengine_us/parameters/gov/states/mo/tax/income/credits/property_tax/income_offset/joint_renter.yaml b/policyengine_us/parameters/gov/states/mo/tax/income/credits/property_tax/income_offset/joint_renter.yaml index 1f679e28b4f..1599a085410 100644 --- a/policyengine_us/parameters/gov/states/mo/tax/income/credits/property_tax/income_offset/joint_renter.yaml +++ b/policyengine_us/parameters/gov/states/mo/tax/income/credits/property_tax/income_offset/joint_renter.yaml @@ -6,6 +6,8 @@ metadata: period: year label: Missouri income offset for married joint unit that paid some rent reference: + - title: 2025 MO-PTC Property Tax Credit Claim + href: https://dor.mo.gov/forms/MO-PTC%20Instructions_2025.pdf#page=2 - title: MO-PTS 2024 Property Tax Credit Schedule, Line 9 href: https://dor.mo.gov/forms/MO-PTS_2024.pdf#page=2 - title: MO-PTS 2023 Property Tax Credit Schedule, Line 9 diff --git a/policyengine_us/parameters/gov/states/mo/tax/income/credits/property_tax/income_offset/non_joint.yaml b/policyengine_us/parameters/gov/states/mo/tax/income/credits/property_tax/income_offset/non_joint.yaml index 2dbea425a4d..d811d83277f 100644 --- a/policyengine_us/parameters/gov/states/mo/tax/income/credits/property_tax/income_offset/non_joint.yaml +++ b/policyengine_us/parameters/gov/states/mo/tax/income/credits/property_tax/income_offset/non_joint.yaml @@ -6,6 +6,8 @@ metadata: period: year label: Missouri income offset for all tax units that did not file as married joint reference: + - title: 2025 MO-PTC Property Tax Credit Claim + href: https://dor.mo.gov/forms/MO-PTC%20Instructions_2025.pdf#page=2 - title: MO-PTS 2024 Property Tax Credit Schedule, Line 9 href: https://dor.mo.gov/forms/MO-PTS_2024.pdf#page=2 - title: MO-PTS 2023 Property Tax Credit Schedule, Line 9 diff --git a/policyengine_us/parameters/gov/states/mo/tax/income/credits/property_tax/phase_out/rate.yaml b/policyengine_us/parameters/gov/states/mo/tax/income/credits/property_tax/phase_out/rate.yaml index c6a1c4a6cab..cc9fd1fc976 100644 --- a/policyengine_us/parameters/gov/states/mo/tax/income/credits/property_tax/phase_out/rate.yaml +++ b/policyengine_us/parameters/gov/states/mo/tax/income/credits/property_tax/phase_out/rate.yaml @@ -6,5 +6,7 @@ metadata: period: year label: Missouri property tax credit phaseout rate reference: + - title: 2025 Property Tax Credit Chart + href: https://dor.mo.gov/forms/Property%20Tax%20Claim%20Chart_2025.pdf - title: MO Rev Stat § 135.030 href: https://revisor.mo.gov/main/OneSection.aspx?section=135.030&bid=6439 diff --git a/policyengine_us/parameters/gov/states/mo/tax/income/credits/property_tax/phase_out/step.yaml b/policyengine_us/parameters/gov/states/mo/tax/income/credits/property_tax/phase_out/step.yaml index 80fed38ccc1..6da84058b96 100644 --- a/policyengine_us/parameters/gov/states/mo/tax/income/credits/property_tax/phase_out/step.yaml +++ b/policyengine_us/parameters/gov/states/mo/tax/income/credits/property_tax/phase_out/step.yaml @@ -6,5 +6,7 @@ metadata: period: year label: Missouri property tax credit phaseout step size reference: + - title: 2025 Property Tax Credit Chart + href: https://dor.mo.gov/forms/Property%20Tax%20Claim%20Chart_2025.pdf - title: MO Rev Stat § 135.030 href: https://revisor.mo.gov/main/OneSection.aspx?section=135.030&bid=6439 diff --git a/policyengine_us/parameters/gov/states/mo/tax/income/credits/property_tax/phase_out/threshold.yaml b/policyengine_us/parameters/gov/states/mo/tax/income/credits/property_tax/phase_out/threshold.yaml index c7ca03d4630..8c52c3e3c26 100644 --- a/policyengine_us/parameters/gov/states/mo/tax/income/credits/property_tax/phase_out/threshold.yaml +++ b/policyengine_us/parameters/gov/states/mo/tax/income/credits/property_tax/phase_out/threshold.yaml @@ -7,6 +7,8 @@ metadata: period: year label: Missouri property tax credit phaseout threshold reference: + - title: 2025 MO-1040 Book - Individual Income Tax Long Form + href: https://dor.mo.gov/forms/MO-1040%20Instructions_2025.pdf#page=50 - title: 2024 MO-1040 Book - Individual Income Tax Long Form href: https://dor.mo.gov/forms/MO-1040%20Instructions_2024.pdf#page=50 - title: 2023 MO-1040 Book - Individual Income Tax Long Form diff --git a/policyengine_us/parameters/gov/states/mo/tax/income/credits/property_tax/property_tax_limit.yaml b/policyengine_us/parameters/gov/states/mo/tax/income/credits/property_tax/property_tax_limit.yaml index 2f21a3597b1..c96a5db6ad9 100644 --- a/policyengine_us/parameters/gov/states/mo/tax/income/credits/property_tax/property_tax_limit.yaml +++ b/policyengine_us/parameters/gov/states/mo/tax/income/credits/property_tax/property_tax_limit.yaml @@ -1,11 +1,16 @@ description: Maximum claimable property tax associated with an owned property. values: 2008-08-28: 1_100 + 2026-01-01: 1_550 metadata: unit: currency-USD period: year label: Missouri property tax credit limit for property owners reference: + - title: MO Rev Stat § 135.030, effective 2026-01-01 + href: https://revisor.mo.gov/main/OneSection.aspx?section=135.030&bid=57542 + - title: 2025 MO-PTC Property Tax Credit Claim + href: https://dor.mo.gov/forms/MO-PTC%20Instructions_2025.pdf#page=2 - title: MO-PTS 2024 Property Tax Credit Schedule, Line 11 href: https://dor.mo.gov/forms/MO-PTS_2024.pdf#page=2 - title: 2023 MO-PTS Property Tax Credit Schedule, Line 11 diff --git a/policyengine_us/parameters/gov/states/mo/tax/income/credits/property_tax/property_tax_rent_ratio.yaml b/policyengine_us/parameters/gov/states/mo/tax/income/credits/property_tax/property_tax_rent_ratio.yaml index 6d4ea003828..8e6bab63229 100644 --- a/policyengine_us/parameters/gov/states/mo/tax/income/credits/property_tax/property_tax_rent_ratio.yaml +++ b/policyengine_us/parameters/gov/states/mo/tax/income/credits/property_tax/property_tax_rent_ratio.yaml @@ -6,6 +6,8 @@ metadata: period: year label: Missouri property tax credit property-tax-to-total-rent ratio reference: + - title: 2025 MO-1040 Book - Individual Income Tax Long Form + href: https://dor.mo.gov/forms/MO-1040%20Instructions_2025.pdf#page=51 - title: 2024 MO-1040 Book - Individual Income Tax Long Form href: https://dor.mo.gov/forms/MO-1040%20Instructions_2024.pdf#page=51 - title: 2023 Form MO-CRP, Line 9 diff --git a/policyengine_us/parameters/gov/states/mo/tax/income/credits/property_tax/rent_property_tax_limit.yaml b/policyengine_us/parameters/gov/states/mo/tax/income/credits/property_tax/rent_property_tax_limit.yaml index 839fd5e9752..b9ab5b43178 100644 --- a/policyengine_us/parameters/gov/states/mo/tax/income/credits/property_tax/rent_property_tax_limit.yaml +++ b/policyengine_us/parameters/gov/states/mo/tax/income/credits/property_tax/rent_property_tax_limit.yaml @@ -1,11 +1,16 @@ description: Maximum claimable property tax associated with a rented property. values: 2008-08-28: 750 + 2026-01-01: 1_055 metadata: unit: currency-USD period: year label: Missouri property tax credit limit for property renters reference: + - title: MO Rev Stat § 135.030, effective 2026-01-01 + href: https://revisor.mo.gov/main/OneSection.aspx?section=135.030&bid=57542 + - title: 2025 MO-PTC Property Tax Credit Claim + href: https://dor.mo.gov/forms/MO-PTC%20Instructions_2025.pdf#page=2 - title: MO-PTS 2024 Property Tax Credit Schedule, Line 12 href: https://dor.mo.gov/forms/MO-PTS_2024.pdf#page=2 - title: 2023 MO-PTS Property Tax Credit Schedule, Line 12 diff --git a/policyengine_us/parameters/gov/states/mo/tax/income/credits/property_tax/upper_income_limit/married.yaml b/policyengine_us/parameters/gov/states/mo/tax/income/credits/property_tax/upper_income_limit/married.yaml new file mode 100644 index 00000000000..973633f5215 --- /dev/null +++ b/policyengine_us/parameters/gov/states/mo/tax/income/credits/property_tax/upper_income_limit/married.yaml @@ -0,0 +1,10 @@ +description: Missouri property tax credit upper income limit for married filing combined. +values: + 2026-01-01: 41_000 +metadata: + unit: currency-USD + period: year + label: Missouri property tax credit upper income limit for married filing combined + reference: + - title: MO Rev Stat § 135.030, effective 2026-01-01 + href: https://revisor.mo.gov/main/OneSection.aspx?section=135.030&bid=57542 diff --git a/policyengine_us/parameters/gov/states/mo/tax/income/credits/property_tax/upper_income_limit/married_homestead.yaml b/policyengine_us/parameters/gov/states/mo/tax/income/credits/property_tax/upper_income_limit/married_homestead.yaml new file mode 100644 index 00000000000..a32a4a5507a --- /dev/null +++ b/policyengine_us/parameters/gov/states/mo/tax/income/credits/property_tax/upper_income_limit/married_homestead.yaml @@ -0,0 +1,10 @@ +description: Missouri property tax credit upper income limit for married homestead owners. +values: + 2026-01-01: 48_000 +metadata: + unit: currency-USD + period: year + label: Missouri property tax credit upper income limit for married homestead owners + reference: + - title: MO Rev Stat § 135.030, effective 2026-01-01 + href: https://revisor.mo.gov/main/OneSection.aspx?section=135.030&bid=57542 diff --git a/policyengine_us/parameters/gov/states/mo/tax/income/credits/property_tax/upper_income_limit/single.yaml b/policyengine_us/parameters/gov/states/mo/tax/income/credits/property_tax/upper_income_limit/single.yaml new file mode 100644 index 00000000000..316076c5232 --- /dev/null +++ b/policyengine_us/parameters/gov/states/mo/tax/income/credits/property_tax/upper_income_limit/single.yaml @@ -0,0 +1,10 @@ +description: Missouri property tax credit upper income limit for single filers. +values: + 2026-01-01: 38_200 +metadata: + unit: currency-USD + period: year + label: Missouri property tax credit upper income limit for single filers + reference: + - title: MO Rev Stat § 135.030, effective 2026-01-01 + href: https://revisor.mo.gov/main/OneSection.aspx?section=135.030&bid=57542 diff --git a/policyengine_us/parameters/gov/states/mo/tax/income/credits/property_tax/upper_income_limit/single_homestead.yaml b/policyengine_us/parameters/gov/states/mo/tax/income/credits/property_tax/upper_income_limit/single_homestead.yaml new file mode 100644 index 00000000000..cf7e6f1915e --- /dev/null +++ b/policyengine_us/parameters/gov/states/mo/tax/income/credits/property_tax/upper_income_limit/single_homestead.yaml @@ -0,0 +1,10 @@ +description: Missouri property tax credit upper income limit for single homestead owners. +values: + 2026-01-01: 42_200 +metadata: + unit: currency-USD + period: year + label: Missouri property tax credit upper income limit for single homestead owners + reference: + - title: MO Rev Stat § 135.030, effective 2026-01-01 + href: https://revisor.mo.gov/main/OneSection.aspx?section=135.030&bid=57542 diff --git a/policyengine_us/parameters/gov/states/mo/tax/income/credits/wftc/match.yaml b/policyengine_us/parameters/gov/states/mo/tax/income/credits/wftc/match.yaml index c5905f002a7..5077c9175d9 100644 --- a/policyengine_us/parameters/gov/states/mo/tax/income/credits/wftc/match.yaml +++ b/policyengine_us/parameters/gov/states/mo/tax/income/credits/wftc/match.yaml @@ -16,3 +16,5 @@ metadata: href: https://dor.mo.gov/taxation/individual/tax-types/income/year-changes/ - title: 2024 MO-1040 Book - Individual Income Tax Long Form href: https://dor.mo.gov/forms/MO-1040%20Instructions_2024.pdf#page=10 + - title: 2025 MO-1040 Book - Individual Income Tax Long Form + href: https://dor.mo.gov/forms/MO-1040%20Instructions_2025.pdf#page=10 diff --git a/policyengine_us/parameters/gov/states/mo/tax/income/deductions/business_income/rate.yaml b/policyengine_us/parameters/gov/states/mo/tax/income/deductions/business_income/rate.yaml index 9147daa86ce..6e23a5b34e2 100644 --- a/policyengine_us/parameters/gov/states/mo/tax/income/deductions/business_income/rate.yaml +++ b/policyengine_us/parameters/gov/states/mo/tax/income/deductions/business_income/rate.yaml @@ -7,6 +7,8 @@ metadata: period: year label: Missouri business income deduction rate reference: + - title: 2025 MO-1040 Book - Individual Income Tax Long Form, Line 17 + href: https://dor.mo.gov/forms/MO-1040%20Instructions_2025.pdf#page=16 - title: 2024 MO-1040 Book - Individual Income Tax Long Form, Line 17 href: https://dor.mo.gov/forms/MO-1040%20Instructions_2024.pdf#page=16 - title: 2023 Form MO-1040, Line 17 diff --git a/policyengine_us/parameters/gov/states/mo/tax/income/deductions/federal_income_tax/cap.yaml b/policyengine_us/parameters/gov/states/mo/tax/income/deductions/federal_income_tax/cap.yaml index 7a4966e9294..bf38fa75c9d 100644 --- a/policyengine_us/parameters/gov/states/mo/tax/income/deductions/federal_income_tax/cap.yaml +++ b/policyengine_us/parameters/gov/states/mo/tax/income/deductions/federal_income_tax/cap.yaml @@ -14,10 +14,12 @@ metadata: period: year label: Missouri federal income tax deduction caps reference: - - title: 2021 Missouri Form MO-1040 Individual Income Tax Long Form Instructions - href: https://dor.mo.gov/forms/MO-1040%20Instructions_2021.pdf + - title: 2025 MO-1040 Book - Individual Income Tax Long Form, Line 13 + href: https://dor.mo.gov/forms/MO-1040%20Instructions_2025.pdf#page=8 - title: 2024 MO-1040 Book - Individual Income Tax Long Form, Line 13 href: https://dor.mo.gov/forms/MO-1040%20Instructions_2024.pdf#page=8 + - title: 2021 Missouri Form MO-1040 Individual Income Tax Long Form Instructions + href: https://dor.mo.gov/forms/MO-1040%20Instructions_2021.pdf - title: Revisor of Missouri Title X TAXATION AND REVENUE Chapter 143.171 href: https://revisor.mo.gov/main/OneSection.aspx?section=143.171&bid=49937&hl=federal+income+tax+deduction%u2044 breakdown: diff --git a/policyengine_us/parameters/gov/states/mo/tax/income/deductions/mo_max_private_pension.yaml b/policyengine_us/parameters/gov/states/mo/tax/income/deductions/mo_max_private_pension.yaml index 8de30ffcb0d..89bf79faee2 100644 --- a/policyengine_us/parameters/gov/states/mo/tax/income/deductions/mo_max_private_pension.yaml +++ b/policyengine_us/parameters/gov/states/mo/tax/income/deductions/mo_max_private_pension.yaml @@ -6,7 +6,9 @@ metadata: period: year label: Missouri maximum private pension amount reference: - - title: Revisor of Missouri Title X TAXATION AND REVENUE Chapter 143.124 - href: https://revisor.mo.gov/main/OneSection.aspx?section=143.124 + - title: 2025 MO-1040 Book - Individual Income Tax Long Form + href: https://dor.mo.gov/forms/MO-1040%20Instructions_2025.pdf#page=29 - title: 2024 Form MO-A - Individual Income Tax Adjustments, Part 3 - Section B href: https://dor.mo.gov/forms/MO-A_2024.pdf#page=3 + - title: Revisor of Missouri Title X TAXATION AND REVENUE Chapter 143.124 + href: https://revisor.mo.gov/main/OneSection.aspx?section=143.124 diff --git a/policyengine_us/parameters/gov/states/mo/tax/income/deductions/mo_private_pension_deduction_allowance.yaml b/policyengine_us/parameters/gov/states/mo/tax/income/deductions/mo_private_pension_deduction_allowance.yaml index a4b7078fffe..dd2becd4f94 100644 --- a/policyengine_us/parameters/gov/states/mo/tax/income/deductions/mo_private_pension_deduction_allowance.yaml +++ b/policyengine_us/parameters/gov/states/mo/tax/income/deductions/mo_private_pension_deduction_allowance.yaml @@ -14,12 +14,14 @@ metadata: period: year label: Missouri private pension deduction allowance reference: + - title: 2025 MO-1040 Book - Individual Income Tax Long Form + href: https://dor.mo.gov/forms/MO-1040%20Instructions_2025.pdf#page=29 + - title: 2024 Form MO-A - Individual Income Tax Adjustments, Part 3 - Section B + href: https://dor.mo.gov/forms/MO-A_2024.pdf#page=3 - title: 2021 Individual Income Tax Long Form MO-1040 Instructions href: https://dor.mo.gov/forms/MO-1040%20Instructions_2021.pdf#page=3 - title: 2021 Individual Income Tax Long Form MO-1040 href: https://dor.mo.gov/forms/MO-1040%20Fillable%20Calculating_2021.pdf#page=2 - - title: 2024 Form MO-A - Individual Income Tax Adjustments, Part 3 - Section B - href: https://dor.mo.gov/forms/MO-A_2024.pdf#page=3 - title: Revisor of Missouri Title X TAXATION AND REVENUE Chapter 143.124 href: https://revisor.mo.gov/main/OneSection.aspx?section=143.124 breakdown: diff --git a/policyengine_us/parameters/gov/states/mo/tax/income/deductions/social_security_and_public_pension/income_threshold_applies.yaml b/policyengine_us/parameters/gov/states/mo/tax/income/deductions/social_security_and_public_pension/income_threshold_applies.yaml index 979cfc34639..a2b1fbc847d 100644 --- a/policyengine_us/parameters/gov/states/mo/tax/income/deductions/social_security_and_public_pension/income_threshold_applies.yaml +++ b/policyengine_us/parameters/gov/states/mo/tax/income/deductions/social_security_and_public_pension/income_threshold_applies.yaml @@ -4,11 +4,13 @@ metadata: period: year label: Missouri social security and public pension income thresholds apply reference: + - title: 2025 MO-1040 Book - Individual Income Tax Long Form + href: https://dor.mo.gov/forms/MO-1040%20Instructions_2025.pdf#page=29 + - title: 2024 MO-1040 Book - Individual Income Tax Long Form + href: https://dor.mo.gov/forms/MO-1040%20Instructions_2024.pdf#page=29 - title: 2023 MO-1040 Book - Individual Income Tax Long Form href: https://dor.mo.gov/forms/MO-1040%20Instructions_2023.pdf#page=29 # Income thresholds removed in 2024. - - title: 2024 MO-1040 Book - Individual Income Tax Long Form - href: https://dor.mo.gov/forms/MO-1040%20Instructions_2024.pdf#page=29 - title: MO Statute - Chapter 143.125, Subsection 2 href: https://revisor.mo.gov/main/OneSection.aspx?section=143.125 diff --git a/policyengine_us/parameters/gov/states/mo/tax/income/deductions/social_security_and_public_pension/mo_max_social_security_benefit.yaml b/policyengine_us/parameters/gov/states/mo/tax/income/deductions/social_security_and_public_pension/mo_max_social_security_benefit.yaml index 77aa5c029c7..b86b2c0d3fd 100644 --- a/policyengine_us/parameters/gov/states/mo/tax/income/deductions/social_security_and_public_pension/mo_max_social_security_benefit.yaml +++ b/policyengine_us/parameters/gov/states/mo/tax/income/deductions/social_security_and_public_pension/mo_max_social_security_benefit.yaml @@ -5,21 +5,26 @@ values: 2022-01-01: 41_373 2023-01-01: 44_683 2024-01-01: 46_381 + 2025-01-01: 48_216 metadata: uprating: gov.irs.uprating unit: currency-USD period: year label: Missouri max social security benefit reference: - - title: 2020 Individual Income Tax Adjustments Form MO-A - href: https://dor.mo.gov/forms/MO-A_2020.pdf#page=3 - - title: 2021 Individual Income Tax Adjustments Form MO-A - href: https://dor.mo.gov/forms/MO-A_2021.pdf#page=3 - - title: Form MO-A 2022 - href: https://dor.mo.gov/forms/MO-A_2022.pdf#page=3 - - title: Form MO-A 2023 - href: https://dor.mo.gov/forms/MO-A_2023.pdf#page=3 + - title: 2025 MO-1040 Book - Individual Income Tax Long Form + href: https://dor.mo.gov/forms/MO-1040%20Instructions_2025.pdf#page=29 + - title: SSA Maximum Benefit Examples 2025 + href: https://www.ssa.gov/oact/cola/examplemax.html - title: 2024 Form MO-A - Individual Income Tax Adjustments, Part 3 - Section A href: https://dor.mo.gov/forms/MO-A_2024.pdf#page=3 + - title: Form MO-A 2023 + href: https://dor.mo.gov/forms/MO-A_2023.pdf#page=3 + - title: Form MO-A 2022 + href: https://dor.mo.gov/forms/MO-A_2022.pdf#page=3 + - title: 2021 Individual Income Tax Adjustments Form MO-A + href: https://dor.mo.gov/forms/MO-A_2021.pdf#page=3 + - title: 2020 Individual Income Tax Adjustments Form MO-A + href: https://dor.mo.gov/forms/MO-A_2020.pdf#page=3 - title: MO Revisor 143.124 href: https://revisor.mo.gov/main/OneSection.aspx?section=143.124 diff --git a/policyengine_us/parameters/gov/states/mo/tax/income/deductions/social_security_and_public_pension/mo_public_pension_deduction_allowance.yaml b/policyengine_us/parameters/gov/states/mo/tax/income/deductions/social_security_and_public_pension/mo_public_pension_deduction_allowance.yaml index de5986aff36..cc97abb36fc 100644 --- a/policyengine_us/parameters/gov/states/mo/tax/income/deductions/social_security_and_public_pension/mo_public_pension_deduction_allowance.yaml +++ b/policyengine_us/parameters/gov/states/mo/tax/income/deductions/social_security_and_public_pension/mo_public_pension_deduction_allowance.yaml @@ -14,6 +14,8 @@ metadata: period: year label: Missouri Public Pension Deduction Allowance reference: + - title: 2025 MO-1040 Book - Individual Income Tax Long Form + href: https://dor.mo.gov/forms/MO-1040%20Instructions_2025.pdf#page=29 - title: 2021 Form MO-1040 Individual Income Tax Long Form Instructions href: https://dor.mo.gov/forms/MO-1040%20Instructions_2021.pdf#page=3 - title: 2021 Form MO-1040 Individual Income Tax Long Form diff --git a/policyengine_us/parameters/gov/states/mo/tax/income/deductions/social_security_and_public_pension/mo_ss_or_ssd_deduction_allowance.yaml b/policyengine_us/parameters/gov/states/mo/tax/income/deductions/social_security_and_public_pension/mo_ss_or_ssd_deduction_allowance.yaml index 2ee0fd8eb03..83b18c6d105 100644 --- a/policyengine_us/parameters/gov/states/mo/tax/income/deductions/social_security_and_public_pension/mo_ss_or_ssd_deduction_allowance.yaml +++ b/policyengine_us/parameters/gov/states/mo/tax/income/deductions/social_security_and_public_pension/mo_ss_or_ssd_deduction_allowance.yaml @@ -14,6 +14,8 @@ metadata: period: year label: Missouri social security or social security disability deduction allowance reference: + - title: 2025 MO-1040 Book - Individual Income Tax Long Form + href: https://dor.mo.gov/forms/MO-1040%20Instructions_2025.pdf#page=29 - title: 2021 Form MO-1040 Individual Income Tax Long Form Instructions href: https://dor.mo.gov/forms/MO-1040%20Instructions_2021.pdf#page=3 - title: 2021 Form MO-1040 Individual Income Tax Long Form diff --git a/policyengine_us/parameters/gov/states/mo/tax/income/deductions/social_security_and_public_pension/mo_ss_or_ssdi_exemption_threshold.yaml b/policyengine_us/parameters/gov/states/mo/tax/income/deductions/social_security_and_public_pension/mo_ss_or_ssdi_exemption_threshold.yaml index bd3e7e385a3..e588aa0eb81 100644 --- a/policyengine_us/parameters/gov/states/mo/tax/income/deductions/social_security_and_public_pension/mo_ss_or_ssdi_exemption_threshold.yaml +++ b/policyengine_us/parameters/gov/states/mo/tax/income/deductions/social_security_and_public_pension/mo_ss_or_ssdi_exemption_threshold.yaml @@ -14,6 +14,8 @@ metadata: period: year label: Missouri social security or social security disability income exemption threshold reference: + - title: 2025 MO-1040 Book - Individual Income Tax Long Form + href: https://dor.mo.gov/forms/MO-1040%20Instructions_2025.pdf#page=29 - title: 2021 Form MO-1040 Individual Income Tax Long Form href: https://dor.mo.gov/forms/MO-A_2021.pdf#page=3 - title: 2021 Form MO-1040 Individual Income Tax Long Form Instructions diff --git a/policyengine_us/parameters/gov/states/mo/tax/income/minimum_taxable_income.yaml b/policyengine_us/parameters/gov/states/mo/tax/income/minimum_taxable_income.yaml index 7a9ed44d9a8..49512bfa207 100644 --- a/policyengine_us/parameters/gov/states/mo/tax/income/minimum_taxable_income.yaml +++ b/policyengine_us/parameters/gov/states/mo/tax/income/minimum_taxable_income.yaml @@ -14,9 +14,11 @@ metadata: - title: Missouri Department of Revenue 2025 Individual Income Tax Year Changes (This reference should be updated once the 2025 tax form comes out) href: https://dor.mo.gov/taxation/individual/tax-types/income/year-changes/ - title: Missouri Legal Code | 143.021. Tax determined by rates in section 143.011 — no tax on taxable income, when. - href: https://rezvisor.mo.gov/main/OneSection.aspx?section=143.021 + href: https://revisor.mo.gov/main/OneSection.aspx?section=143.021 - title: 2024 MO-1040 Book - Individual Income Tax Long Form href: https://dor.mo.gov/forms/MO-1040%20Instructions_2024.pdf#page=26 + - title: 2025 MO-1040 Book - Individual Income Tax Long Form + href: https://dor.mo.gov/forms/MO-1040%20Instructions_2025.pdf#page=26 - title: 2023 Individual Income Tax Long Form MO-1040 Instructions href: https://dor.mo.gov/forms/MO-1040%20Instructions_2023.pdf#page=26 - title: 2022 Individual Income Tax Long Form MO-1040 Instructions diff --git a/policyengine_us/parameters/gov/states/mo/tax/income/rates.yaml b/policyengine_us/parameters/gov/states/mo/tax/income/rates.yaml index 110f6d59bcf..a1cb923f6f3 100644 --- a/policyengine_us/parameters/gov/states/mo/tax/income/rates.yaml +++ b/policyengine_us/parameters/gov/states/mo/tax/income/rates.yaml @@ -139,6 +139,8 @@ metadata: href: https://dor.mo.gov/forms/MO-1040%20Instructions_2022.pdf#page=26 - title: 2024 MO-1040 Book - Individual Income Tax Long Form href: https://dor.mo.gov/forms/MO-1040%20Instructions_2024.pdf#page=26 + - title: 2025 MO-1040 Book - Individual Income Tax Long Form + href: https://dor.mo.gov/forms/MO-1040%20Instructions_2025.pdf#page=26 - title: Missouri Legal Code, Chapter 143.011. Resident individuals — tax rates — rate reductions, when. href: https://revisor.mo.gov/main/OneSection.aspx?section=143.011&bid=51511&hl= - title: 2025 Missouri Withholding Tax Formula diff --git a/policyengine_us/parameters/gov/states/mo/tax/income/subtractions/agi_subtractions.yaml b/policyengine_us/parameters/gov/states/mo/tax/income/subtractions/agi_subtractions.yaml index 1af2e51407a..e77a2bb4f8d 100644 --- a/policyengine_us/parameters/gov/states/mo/tax/income/subtractions/agi_subtractions.yaml +++ b/policyengine_us/parameters/gov/states/mo/tax/income/subtractions/agi_subtractions.yaml @@ -16,3 +16,5 @@ metadata: href: https://www.revisor.mo.gov/main/OneSection.aspx?bid=50493§ion=143.121 - title: Revisor of Missouri, Title X Taxation and Revenue, Chapter 143, 143.121, Missouri adjusted gross income (8/28/2025) href: https://www.revisor.mo.gov/main/OneSection.aspx?section=143.121&bid=57543 + - title: 2025 MO-1040 Book - Individual Income Tax Long Form + href: https://dor.mo.gov/forms/MO-1040%20Instructions_2025.pdf#page=12 diff --git a/policyengine_us/parameters/gov/states/mo/tax/income/subtractions/net_capital_gain/rate.yaml b/policyengine_us/parameters/gov/states/mo/tax/income/subtractions/net_capital_gain/rate.yaml index 60f603f8abd..5517a66b9c5 100644 --- a/policyengine_us/parameters/gov/states/mo/tax/income/subtractions/net_capital_gain/rate.yaml +++ b/policyengine_us/parameters/gov/states/mo/tax/income/subtractions/net_capital_gain/rate.yaml @@ -12,3 +12,5 @@ metadata: href: https://www.senate.mo.gov/25info/bts_web/bill.aspx?SessionType=R&BillID=4957943 - title: MO Dept of Revenue, Capital Gains Subtraction FAQs href: https://dor.mo.gov/faq/taxation/individual/capital-gains-subtraction.html + - title: 2025 MO-1040 Book - Individual Income Tax Long Form + href: https://dor.mo.gov/forms/MO-1040%20Instructions_2025.pdf#page=12 diff --git a/policyengine_us/tests/policy/baseline/gov/states/mo/tax/income/income_tax/integration.yaml b/policyengine_us/tests/policy/baseline/gov/states/mo/tax/income/income_tax/integration.yaml index 2f5ef5e38ef..50d5498d1ed 100644 --- a/policyengine_us/tests/policy/baseline/gov/states/mo/tax/income/income_tax/integration.yaml +++ b/policyengine_us/tests/policy/baseline/gov/states/mo/tax/income/income_tax/integration.yaml @@ -67,3 +67,33 @@ state_code: MO output: # expected results from TAXSIM35 mo_income_tax: 884.03 + +- name: Single filer with $50,000 taxable income in 2025 + # Tests 2025 tax brackets: + # $0-$1,313: $0 (0%) + # $1,313-$2,626: $26.26 (2% of $1,313) + # $2,626-$3,939: $32.83 (2.5% of $1,313) + # $3,939-$5,252: $39.39 (3% of $1,313) + # $5,252-$6,565: $45.96 (3.5% of $1,313) + # $6,565-$7,878: $52.52 (4% of $1,313) + # $7,878-$9,191: $59.09 (4.5% of $1,313) + # $9,191-$50,000: $1,918.02 (4.7% of $40,809) + # Total: $2,174.07 (rounded to $2,174) + period: 2025 + absolute_error_margin: 1 + input: + people: + person1: + is_tax_unit_head: true + age: 40 + mo_taxable_income: 50_000 + tax_units: + tax_unit: + members: [person1] + mo_non_refundable_credits: 0 + households: + household: + members: [person1] + state_code: MO + output: + mo_income_tax: 2_174 \ No newline at end of file diff --git a/policyengine_us/tests/policy/baseline/gov/states/mo/tax/income/subtractions/mo_capital_gains_subtraction.yaml b/policyengine_us/tests/policy/baseline/gov/states/mo/tax/income/subtractions/mo_capital_gains_subtraction.yaml index f36c5927ffc..e8d05f19518 100644 --- a/policyengine_us/tests/policy/baseline/gov/states/mo/tax/income/subtractions/mo_capital_gains_subtraction.yaml +++ b/policyengine_us/tests/policy/baseline/gov/states/mo/tax/income/subtractions/mo_capital_gains_subtraction.yaml @@ -63,3 +63,26 @@ mo_capital_gains_subtraction: 10_000 # Person level subtraction should be allocated by LTCG share mo_capital_gains_subtraction_person: [6_000, 4_000] + +- name: 2025 capital gains subtraction - 100% of LTCG + # In 2025, 100% of long-term capital gains are subtractable + period: 2025 + absolute_error_margin: 0 + input: + people: + person1: + long_term_capital_gains: 25_000 + short_term_capital_gains: 5_000 + tax_units: + tax_unit1: + members: [person1] + tax_unit_itemizes: false + taxable_income: 150_000 + households: + household1: + members: [person1] + state_code: MO + output: + # 100% of long-term capital gains ($25,000) subtracted + # Short-term capital gains are NOT eligible for subtraction + mo_capital_gains_subtraction: 25_000 \ No newline at end of file