Looking for a Missouri Income Tax Forms And Templates? Download it for free!

Missouri Department of Revenue

General Instructions ‑ 2013 Credit Institution Tax Return

Section 148.120

–

148.230, RSMo

This information is for guidance only and does not state the complete law.

or things in action, or in the buying, selling or discounting of,

The Form 2823 must be completed and filed by April 15, 2014

or investing in, negotiable or non‑negotiable instruments given

(tax becomes delinquent after this date and is subject to interest).

as security for or in payment of the purchase price of consumer

An extension of time to file this return may be obtained from

goods exercising such franchise within the state of Missouri,

the Department of Revenue upon written request. Such

but shall not include real estate mortgage loan companies,

request should indicate the extension period requested,

banks, trust companies, credit unions, insurance companies,

the reason for the request and must be accompanied by a

mutual savings and loans associations and savings and loan

tentative return and payment for the estimated tax due.

associations.

An extension of time to file the return does not extend the

Credit Institution Tax Return — If any taxpayer shall operate

time for payment of the tax. An extension of time may

more than one office in Missouri, the taxpayer shall file one

not exceed 180 days from the due date (April 15) pursuant to

return giving the address of each such office and allocating to

Regulation 12 CSR

10‑10.090.

each office its share of the net income of the taxpayer in the

Filing Requirement — Every person, firm, partnership, or

ratio that the gross receipts of that office bears to the total gross

corporation engaged principally in the consumer credit or loan

receipts of the taxpayer.

business in the making of loans of money, credit, goods,

Instructions

Attach schedule of taxes deducted on federal Form 1120, Line

County Code — Enter your three digit county code of the

principal place of your institution from the list provided at the end

17 or Form 1120S, Line 12 or Form 1065, Line 14 or Form 1040,

Schedule C, Line 23 for verification purposes.

of these instructions.

An accrual basis taxpayer that is a member of an affiliated group

Part 1

filing a consolidated Missouri income tax return shall allocate a

Line 1 Taxpayers that are members of an affiliated group filing

portion of the consolidated Missouri income tax liability for the

a consolidated federal income tax return shall compute federal

year by multiplying such liability by a fraction, the numerator of

taxable income as if a separate federal tax return had been

which is the separate Missouri taxable in come of such member,

filed. A pro forma federal return or appropriate schedules should

and the denominator of which is the sum of the separate Missouri

then be attached together with a copy of pages 1 through 4 of the

taxable incomes of all members having Missouri taxable income

consolidated federal income tax return.

for the year.

Line 2 Enter all income received on state or political subdivision

A cash basis taxpayer that is a member of an affiliated group

obligations excluded from the federal return. This income is

filing a consolidated Missouri income tax return shall allocate

taxable on this return. Explain if different from tax‑exempt interest

each component of the consolidated Missouri income tax paid

shown on the federal return.

(or refunded) during the year by multiplying each component

by a fraction, the numerator of which is the separate Missouri

Line 3 Enter all income received on federal securities excluded

taxable income of such member for the applicable year, and the

from the federal return (e.g., non‑taxable portion Federal Reserve

denominator of which is the sum of the separate Missouri taxable

Bank dividends). This income is taxable on this return.

incomes of all members having Missouri taxable income for the

Line 4 Enter the charitable contribution deduction claimed on the

applicable year.

federal return.

In the computation of separate Missouri taxable income, each

Line 5 Enter the bad debt claimed on the federal return or any

member of a group filing a consolidated Missouri income tax

additions to a bad debt reserve claimed as a de duc tion on the

return shall start with its separate federal taxable income as

federal return. (The reserve method is not a permissible method

computed pursuant to the method applicable to the group under

on this return.) In the appropriate box, indicate the bad debt

Treasury Regulation 1.1552‑1. The amount of the federal income

method used on the federal return.

tax deduction of each member under

Section 143.171.1,

RSMo,

Line 6 Enter the excess, if any, of recoveries of bad debts

shall be that portion of the actual federal consolidated income tax

previously charged off over current year charge offs. Attach

liability of the group as is required to be allocated to such member

schedule of bad debt computation.

under Internal Revenue Code Section 1552 without regard to any

additional allocations under Treasury Regulation 1.1502‑33(d).

Line 7 Enter any Missouri Credit Institution tax deducted on the

federal return. This is not an allowable deduction on this return.

Line 9 Enter deductions claimed on the federal return which

are not allowable on this return and income not included on the

Line 8 Enter here and on Line 19 taxes to be claimed as credits

federal return which is required to be included on this return (attach

on this return. All taxes paid directly to the state of Missouri or

schedule). The environmental tax under Section 59A of the Internal

any political subdivision thereof are eligible except taxes on real

Revenue Code must be added back to income.

estate, unemployment taxes, credit institution tax, and taxes on

tangible personal property owned by the taxpayer and held for

Line 10 Enter the total of Lines 1 through 9.

lease or rental to others. Show detail on Schedule A.

Form 2823 Instructions (Revised 12‑2013)

Form 2823 - General Instructions - Credit Institution Tax Return Missouri Department Of Revenue - 2013

Related Articles

Related forms

Related Categories