Last Wednesday, the Missouri House passed HB 429 and HB 430 relating to foster care and adoption. HB 429 will authorize an income tax deduction for Missouri taxpayers who provide foster care for at least six months of $2,500 for individuals and $5,000 for married couples. HB 430 will expand the state’s existing $10,000 tax credit to all adoptions. It would also apply to taxpayers who adopt an individual 18 years or older who cannot physically or mentally care for themselves. Currently, it only covers special needs adoptions.
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