reglab/housing_qa huggingface dataset:
MO Rev Stat § 148.020 (2021)
2021 Missouri Revised Statutes|Title X - Taxation and Revenue|Chapter 148 - Taxation of Financial Institutions|Section 148.020 - Definitions.

Effective - 28 Aug 2002   148.020. Definitions. — For the purposes of this law the following terms shall have the following meanings:  (1) The term "banking institution" means every bank and every trust company organized under any general or special law of this state and every national banking association located in this state and any branch or office physically located in this state of any commercial bank or trust company;  (2) The term "director" means the director of revenue in charge of the state department of revenue;  (3) The term "director of finance" means the chief officer of the present state division of finance, or of such agency of the state of Missouri as may hereafter have by law the supervisory duties of the present state division of finance pertaining to banks and trust companies incorporated under the laws of this state;  (4) The term "income period" means the calendar year or relevant portion thereof next preceding the taxable year;  (5) The term "lease or rental of tangible personal property" means the lease or rental of tangible personal property under the exclusive control of the lessee and neither attached to nor functionally a part of a taxpayer's building or buildings or any part thereof;  (6) The term "taxable year" means the calendar year in which the tax is payable;  (7) The term "taxpayer" means any banking institution subject to any tax imposed by this law. ­­-------- (L. 1945 p. 1921 § 2, A.L. 1993 H.B. 105 & 480, A.L. 2002 S.B. 895)
MO Rev Stat § 148.030 (2021)
2021 Missouri Revised Statutes|Title X - Taxation and Revenue|Chapter 148 - Taxation of Financial Institutions|Section 148.030 - Banks subject to tax based on income — rate — credits.

Effective - 01 Jan 1988   148.030. Banks subject to tax based on income — rate — credits. — 1. Every banking institution shall be subject to an annual tax for the privilege of exercising its corporate franchises within the state determined in accordance with subsection 2 of this section.  2. The annual franchise tax imposed by subsection 1 of this section shall be the sum of the amounts determined under subdivisions (1) and (2) of this subsection:  (1) For taxable years beginning after December 31, 1986, the amount determined under this subdivision shall be determined in accordance with section 147.010;  (2) The amount determined under this subdivision shall be seven percent of the taxpayer's net income for the income period, from which product shall be subtracted the sum of the amount determined under subdivision (1) of this subsection and the credits allowable under subsection 3 of this section. However, the amount determined under this subdivision shall not be less than zero.  3. For purposes of subdivision (2) of subsection 2 of this section, the allowable credits are all taxes paid to the state of Missouri or any political subdivision thereof during the relevant income period, including, without limitation, state and local sales and use taxes paid to seller's, vendors, or the state of Missouri with respect to the taxpayer's purchases of tangible personal property and the services enumerated in chapter 144. However, a taxpayer shall not be entitled to credits for taxes on real estate and tangible personal property owned by the taxpayer and held for lease or rental to others, contributions paid pursuant to the unemployment compensation tax law of Missouri, taxes imposed by this law, taxes imposed under chapter 147 for taxable years after 1985, or state and local sales and use taxes collected by the taxpayer on its sales of tangible personal property and the services enumerated in chapter 144. ­­-------- (L. 1945 p. 1921 § 3, A. 1949 S.B. 1031, A.L. 1971 H.B. 169, A.L. 1972 H.B. 1054, A.L. 1986 H.B. 1195, A.L. 1987 H.B. 349)  Effective 1-1-88
MO Rev Stat § 148.031 (2021)
2021 Missouri Revised Statutes|Title X - Taxation and Revenue|Chapter 148 - Taxation of Financial Institutions|Section 148.031 - Substitute bank franchise tax.

Effective - 28 Aug 1998   148.031. Substitute bank franchise tax. — A corporation that makes an election under 26 U.S.C. Section 1362, that is also a banking institution as defined in section 148.020, shall pay the annual franchise tax as set forth in section 148.030, as modified by this section, and which is substantially equal to the franchise tax which a corporation that has not made such election that is also a banking institution pays, as follows:  (1) For the purposes of calculating the tax due pursuant to section 148.030, such electing corporation shall first determine all taxes due treating the electing corporation as a nonelecting corporation, both for federal and state tax purposes, including sections 148.010 to 148.110 and excluding section 143.471;  (2) The resulting franchise tax due under this calculation is the substitute franchise tax, and shall be paid as the corporation's bank franchise tax. ­­-------- (L. 1998 S.B. 792 § 1)
MO Rev Stat § 148.045 (2021)
2021 Missouri Revised Statutes|Title X - Taxation and Revenue|Chapter 148 - Taxation of Financial Institutions|Section 148.045 - Computation of deduction, taxpayer files consolidated return.

Effective - 15 May 1986   148.045. Computation of deduction, taxpayer files consolidated return. — A taxpayer that is a member of an affiliated group of corporations which files a consolidated federal income tax return shall determine its deduction for or its gross income in respect of federal income taxes paid or accrued during the income period to the United States as if it and all other members of the affiliated group of which it was a member had filed separate federal income tax returns for all relevant taxable years. ­­-------- (L. 1986 H.B. 1195)  Effective 5-15-86
MO Rev Stat § 148.050 (2021)
2021 Missouri Revised Statutes|Title X - Taxation and Revenue|Chapter 148 - Taxation of Financial Institutions|Section 148.050 - Returns, when filed.

Effective - 15 May 1986   148.050. Returns, when filed. — Every taxpayer shall file a return with the director on or before the fifteenth day of April in each taxable year. ­­-------- (L. 1945 p. 1921 § 4, A. 1949 S.B. 1031, A.L. 1969 3d Ex. Sess. H.B. 25, A.L. 1982 H.B. 1351, et al., A.L. 1986 H.B. 1195)  Effective 5-15-86
MO Rev Stat § 148.060 (2021)
2021 Missouri Revised Statutes|Title X - Taxation and Revenue|Chapter 148 - Taxation of Financial Institutions|Section 148.060 - Overpayment, underpayment of tax — failure to file, estimation of tax by director of revenue — notice of deficiency.

Effective - 15 May 1986   148.060. Overpayment, underpayment of tax — failure to file, estimation of tax by director of revenue — notice of deficiency. — 1. As soon as is practicable after the return is filed, the director shall examine it to determine the correct amount of tax. If the director finds that the amount of tax shown on the return is less than the correct amount, he shall notify the taxpayer of the amount of the deficiency proposed to be assessed. If the director finds that the tax paid is more than the correct amount, he shall credit the overpayment against any taxes due under sections 148.010 to 148.110 from the taxpayer and refund the differences. No deficiency shall be proposed and no refund shall be made pursuant to this or any section of sections 148.010 to 148.110 unless the amount exceeds one dollar.  2. If the taxpayer fails to file a return, the director shall estimate the par value of the taxpayer's shares and surplus employed in this state and the taxpayer's net income and the tax thereon from any available information and notify the taxpayer of the amount proposed to be assessed as in the case of a deficiency.  3. The notice required by subsections 1 and 2 of this section, hereafter referred to as a notice of deficiency, shall set forth the reason for the proposed assessment. The notice of deficiency shall be mailed by certified or registered mail to the taxpayer at its last known address. If the taxpayer's existence has terminated, a notice of deficiency may be mailed to its last known address unless the director has received notice of the existence and address of a person to receive notices with respect to such taxpayer. ­­-------- (L. 1945 p. 1921 § 7, A.L. 1982 H.B. 1351, et al., A.L. 1986 H.B. 1195)  Effective 5-15-86
MO Rev Stat § 148.062 (2021)
2021 Missouri Revised Statutes|Title X - Taxation and Revenue|Chapter 148 - Taxation of Financial Institutions|Section 148.062 - Franchise tax, administered how.

Effective - 15 May 1986   148.062. Franchise tax, administered how. — Except as otherwise specifically provided in sections 148.010 to 148.060 and sections 148.068 to 148.110, the franchise tax imposed under sections 148.010 to 148.110 shall be administered as prescribed in the following provisions of chapter 143: subsection 1 of section 143.551, subsection 4 of section 143.551, sections 143.561, 143.571, 143.601, 143.621, 143.631, 143.641, 143.651, 143.661, 143.671, 143.681, 143.691, 143.721 and 143.731, subsection 1 of section 143.741, subsection 1 of section 143.751, subsection 2 of section 143.751, subsection 5 of section 143.751, sections 143.771 and 143.791, subsection 1 of section 143.811, subsection 2 of section 143.811, subsection 4 of section 143.811, sections 143.831, 143.841, and 143.851, subsection 2 of section 143.861, subsection 3 of section 143.861, and sections 143.971 and 143.986. ­­-------- (L. 1986 H.B. 1195)  Effective 5-15-86
MO Rev Stat § 148.065 (2021)
2021 Missouri Revised Statutes|Title X - Taxation and Revenue|Chapter 148 - Taxation of Financial Institutions|Section 148.065 - Intangible tax fund created — maintenance and investment of fund — distribution of interest income to counties.

Effective - 28 Aug 1986   148.065. Intangible tax fund created — maintenance and investment of fund — distribution of interest income to counties. — 1. The director shall deposit all funds received by him in payment of any tax imposed by sections 148.010 to 148.230 and 148.540 to the credit of the intangible tax fund which is hereby created. He shall maintain such funds in banking institutions selected by him and approved by the governor, state treasurer and state auditor.  2. Thereafter he shall, until the time set for the distribution of the net proceeds of the tax, invest all moneys within the fund in the same manner as state funds not needed for the immediate expenses of the state are invested. All interest earned upon the moneys so invested shall be deposited in the intangible tax fund and all such interest shall be returned to the various county treasurers within thirty days of tax distribution. Each county shall receive that percentage of the total interest earned as its share of the tax paid bears to the total amount of the tax received by the director of revenue. A statement of the exact amount of interest due each political subdivision in such county determined by the pro rata share of the proceeds of the tax received by such political subdivision bears to the proceeds of the tax received by the county shall accompany each payment. ­­-------- (L. 1969 3d Ex. Sess. H.B. 25, Repealed L. 1986 H.B. 1195, A.L. 1986 S.B. 669, et al.)
MO Rev Stat § 148.068 (2021)
2021 Missouri Revised Statutes|Title X - Taxation and Revenue|Chapter 148 - Taxation of Financial Institutions|Section 148.068 - Tax assessed, when, supplemental assessment.

Effective - 15 May 1986   148.068. Tax assessed, when, supplemental assessment. — 1. The amount of tax which is shown to be due on the return, including revisions for mathematical errors, shall be deemed to be assessed on the date of filing of the return including any amended returns showing an increase of tax. In the case of a return properly filed without the computation of the tax, the tax computed by the director shall be deemed to be assessed on the date when payment is due. If a notice of deficiency has been mailed, the amount of the deficiency shall be deemed to be assessed sixty days after the notice of deficiency was mailed if no protest is filed; or, if a protest is filed, then upon the later of the date when the determination of the director or the administrative hearing commission becomes final. Any amount paid as a tax or in respect of a tax shall be deemed to be assessed upon the date of receipt of payment, notwithstanding any other provision of sections 148.010 to 148.110.  2. If the mode or time for the assessment of any tax under sections 148.010 to 148.110 including interest, additions to tax, and penalties is not otherwise provided for, the director of revenue may establish the same by regulation.  3. The director may, at any time within the period prescribed for assessment, make a supplemental assessment, subject to the provisions of section 148.060 where applicable, whenever it is found that any assessment is imperfect or incomplete in any material aspect. ­­-------- (L. 1986 H.B. 1195)  Effective 5-15-86
MO Rev Stat § 148.070 (2021)
2021 Missouri Revised Statutes|Title X - Taxation and Revenue|Chapter 148 - Taxation of Financial Institutions|Section 148.070 - Notice of deficiency, time limitations.

Effective - 15 May 1986   148.070. Notice of deficiency, time limitations. — 1. Except in the case of any erroneous refund and except as otherwise provided in this section, a notice of deficiency shall be mailed to the taxpayer within three years after the return was filed. No deficiency shall be assessed or collected with respect to the taxable year unless the notice is mailed within the three-year period or the period otherwise fixed.  2. If a taxpayer omits from its return an amount of income that is properly includable in its gross income which is in excess of twenty-five percent of the amount of gross income stated in its return, a notice of deficiency may be mailed to the taxpayer within six years after the return was filed. For purposes of this subsection, in determining the amount omitted, there shall not be taken into account any amount which is omitted in the return if such amount is disclosed in the return, or in a statement attached to the return, in a manner adequate to apprise the director of the nature and amount of such item.  3. If no return is filed or a false and fraudulent return is filed with intent to evade the tax imposed by sections 148.010 to 148.110, a notice of deficiency may be mailed to the taxpayer at any time.  4. Where, before the expiration of the time prescribed in this section for the assessment of a deficiency, both the director and the taxpayer shall have consented in writing to its assessment after such time, the deficiency may be assessed at any time prior to the expiration of the period agreed upon. The period so agreed upon may be extended by subsequent agreement in writing made before the expiration of the period previously agreed upon.  5. For purposes of this section, a return filed before the last day, without regard to any extension, prescribed by law or regulation for the filing thereof, shall be deemed to be filed on such last day. ­­-------- (L. 1945 p. 1921 § 8, A.L. 1978 S.B. 661, A.L. 1986 H.B. 1195)  Effective 5-15-86
MO Rev Stat § 148.072 (2021)
2021 Missouri Revised Statutes|Title X - Taxation and Revenue|Chapter 148 - Taxation of Financial Institutions|Section 148.072 - Interest, additions to tax, penalties, due when.

Effective - 15 May 1986   148.072. Interest, additions to tax, penalties, due when. — The interest, additions to tax, and penalties provided by sections 148.010 to 148.110 shall be paid upon notice and demand and shall be assessed, collected, paid, and distributed pursuant to sections 148.080, 148.085, and 148.095 in the same manner as taxes. Any reference in sections 148.010 to 148.110 to the tax imposed by sections 148.010 to 148.110 shall be deemed also to refer to interest, additions to the tax, and penalties provided in sections 148.010 to 148.110. ­­-------- (L. 1986 H.B. 1195)  Effective 5-15-86
MO Rev Stat § 148.074 (2021)
2021 Missouri Revised Statutes|Title X - Taxation and Revenue|Chapter 148 - Taxation of Financial Institutions|Section 148.074 - Overpayment of tax, director may credit against other tax liability, when.

Effective - 15 May 1986   148.074. Overpayment of tax, director may credit against other tax liability, when. — 1. The director within the applicable period of limitations may credit an overpayment of the tax imposed by sections 148.010 to 148.110, and interest on such overpayment, against any liability in respect of any tax imposed by the tax laws of this state on the taxpayer who made the overpayment, and the balance shall be refunded if it exceeds one dollar.  2. If any amount of tax is assessed or collected after the expiration of the period of limitations properly applicable thereto, such amount shall be considered an overpayment. ­­-------- (L. 1986 H.B. 1195)  Effective 5-15-86
MO Rev Stat § 148.076 (2021)
2021 Missouri Revised Statutes|Title X - Taxation and Revenue|Chapter 148 - Taxation of Financial Institutions|Section 148.076 - Claims for refund, filed when, how — amount, limitations.

Effective - 15 May 1986   148.076. Claims for refund, filed when, how — amount, limitations. — 1. A claim for credit or refund of an overpayment of any tax imposed by sections 148.010 to 148.110 shall be filed by the taxpayer within three years from the time the return was filed or two years from the time the tax was paid, whichever of such periods expires the later; or if no return was filed by the taxpayer, within two years from the time the tax was paid. No credit or refund shall be allowed or made after the expiration of the period of limitations prescribed in this subsection for the filing of a claim for credit or refund, unless a claim for credit or refund is filed by the taxpayer within such period. Every claim for refund shall be filed with the director in writing and shall state the specific grounds upon which it is founded. Claims for refund may be filed in accordance with section 143.851.  2. If the claim is filed by the taxpayer during the three-year period prescribed in subsection 1 of this section, the amount of the credit or refund shall not exceed the portion of the tax paid within the three years immediately preceding the filing of the claim plus the period of any extension of time for filing the return. If the claim is not filed within such three-year period, but is filed within the two-year period, the amount of the credit or refund shall not exceed the portion of the tax paid during the two years immediately preceding the filing of the claim. If no claim is filed, the credit or refund shall not exceed the amount which would be allowable under either of the preceding sentences, as the case may be, if a claim was filed on the date the credit or refund is allowed.  3. If pursuant to subsection 4 of section 148.070 an agreement for an extension of the period for assessment of tax is made within the period prescribed in subsection 1 of this section for the filing of a claim for credit or refund, the period for filing a claim for credit or refund or for making a credit or refund if no claim is filed, shall not expire prior to six months after the expiration of the period within which an assessment may be made pursuant to the agreement or any extension thereof. The amount of such credit or refund shall not exceed the portion of the tax paid after the execution of the agreement and before the filing of the claim or the making of the credit or refund, as the case may be, plus the portion of the tax paid within the period which would be applicable under subsection 1 of this section if a claim had been filed on the date the agreement was executed. ­­-------- (L. 1986 H.B. 1195)  Effective 5-15-86
MO Rev Stat § 148.080 (2021)
2021 Missouri Revised Statutes|Title X - Taxation and Revenue|Chapter 148 - Taxation of Financial Institutions|Section 148.080 - Taxes returned to counties — two percent to state — director to allocate.

Effective - 15 May 1986   148.080. Taxes returned to counties — two percent to state — director to allocate. — The portion of the tax determined under subdivision (2) of subsection 2 of section 148.030 which is collected by the director under the provisions of sections 148.010 to 148.110, and all taxes collected by the director under sections 148.120 to 148.230 and under section 148.540, shall be returned by him, less two percent thereof which shall be retained by the state for collection, to the county treasury of the county in which the taxpayer is located on or before December fifteenth of each year. A statement of the exact amount due each political subdivision as determined by applying the local rates of levy to the proceeds of the tax shall accompany each payment. The several county treasurers and the treasurer of St. Louis City are hereby directed to distribute all amounts so received from the director according to the allocation made in the statements made by the director. ­­-------- (L. 1945 p. 1921 § 10, A.L. 1969 3d Ex. Sess. H.B. 25, A.L. 1986 H.B. 1195)  Effective 5-15-86
MO Rev Stat § 148.085 (2021)
2021 Missouri Revised Statutes|Title X - Taxation and Revenue|Chapter 148 - Taxation of Financial Institutions|Section 148.085 - Recording and depositing of tax receipts, how.

Effective - 15 May 1986   148.085. Recording and depositing of tax receipts, how. — The portion of the tax determined under subdivision (1) of subsection 2 of section 148.030 which is collected by the director under sections 148.010 to 148.110 shall be recorded and deposited in accordance with section 136.110. ­­-------- (L. 1986 H.B. 1195)  Effective 5-15-86
MO Rev Stat § 148.090 (2021)
2021 Missouri Revised Statutes|Title X - Taxation and Revenue|Chapter 148 - Taxation of Financial Institutions|Section 148.090 - New banks, when taxed — tax, when due.

Effective - 28 Aug 1949   148.090. New banks, when taxed — tax, when due. — Each bank and each trust company organized under the laws of this state and each national banking association organized under the laws of the United States to be located in Missouri, with the date of its certificate of due organization, or the equivalent thereof as a result of determination on appeal, or its certificate of authority to commence business, as the case may be (which are relevantly herein referred to as "its certificate" ) subsequent to July 1, 1946, shall be subject to the tax imposed by this law for the calendar year in which it receives its certificate and the first taxable year thereafter measured by its net income, as defined in section 148.040, for the portion of the calendar year unelapsed on the date borne by its certificate with the rate of tax as provided by section 148.030, and with credit against said tax for all taxes and contributions for which credit is permitted by section 148.030, which taxes or contributions are paid during the portion of the calendar year unelapsed on the date borne by its certificate. For each other taxable year each banking institution in this section referred to shall be subject to all the provisions of this law. Any tax imposed by this law due for the calendar year in which it receives its certificate shall be payable by each banking institution to which this section applies to the director on or before June first of the year following the year in which it receives its certificate, and except as to this particular the provisions of sections 148.040 to 148.070 and section 148.100 shall be applicable. ­­-------- (L. 1945 p. 1921 § 9, A. 1949 H.B. 2161)