Subchapter S corporation shareholders of a credit institution required to pay franchise taxes under section 148.140 may take a tax credit against such shareholder's state income tax return, as provided in section 143.471. Such tax credit shall be the taxpayer's pro rata share of the franchise tax paid by the credit institution as provided in this chapter.
Mo. Rev. Stat. § 148.657
Tax credit allowed for S corporation shareholders of credit institutions,..
Known as the Bank Tax Law
The act spans §§ 148–148 (70 sections).
Effective: 28 Aug 2006; (L. 2006 S.B. 892)
Official source: Missouri Revisor of Statutes. Reproduced from public-domain Missouri statutes; confirm against the official source for the current text. Not legal advice.