(1) There shall be subtracted from federal taxable income amounts received from a scholarship awarded to the taxpayer or a dependent of the taxpayer that are used for housing expenses of the scholarship recipient at the time the scholarship recipient is attending an accredited community college, college, university or other institution of higher education.
(2) A subtraction may not be allowed under this section if the amounts described in subsection (1) of this section:
(a) Are not included in the taxpayer’s federal gross income for the tax year; or
(b) Are taken into account as a deduction on the taxpayer’s federal income tax return for the tax year. [1999 c.747 §2]Section: Previous 316.835 316.836 316.837 316.838 316.840 316.844 316.845 316.846 316.848 316.849 316.852 316.854 316.855 316.857 316.860 Next
Last modified: August 7, 2008