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HB 3405

Modifies provisions of the "SALT Parity Act"

2026 Regular Session Introduced by Terry Thompson

HB 3405 modifies Missouri's SALT Parity Act provisions governing state and local tax deductions, affecting state revenue and taxpayer obligations.

Reported to the Senate and First Read (S)
#taxationandrevenue-general #taxationandrevenue-income
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Bill Summary · HB 3405

Legislative bill overview

HB 3405 modifies provisions of Missouri's "SALT Parity Act," which addresses state and local tax (SALT) deductions. The bill has been introduced and is currently in the House Ways and Means Committee as of March 2026. Without access to the specific text of the modifications, the exact changes cannot be detailed here.

Why is this important

SALT deduction policies directly affect state tax revenue and how Missouri residents and businesses experience their overall tax burden relative to federal tax law. These provisions influence whether state and local taxes paid are fully deductible, partially deductible, or subject to federal limitations, impacting mid-to-high-income households and businesses most significantly.

Potential points of contention

  • Revenue implications: Modifications could increase or decrease state tax revenue depending on whether the changes expand or restrict tax deductions
  • Income equity concerns: SALT provisions often benefit higher-income earners more, raising fairness questions about tax policy design
  • Federal-state coordination: Changes may affect how Missouri law aligns with or diverges from federal tax treatment under SALT caps

Compiled from official sources — confirm details with the bill’s official record.

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