SB 174
Modifies provisions relating to taxation
LR Number:
Last Action:
7/11/2019 - Signed by Governor
Journal Page:
SCS SB 174
Calendar Position:
Effective Date:
August 28, 2019
House Handler:

Current Bill Summary

SCS/SB 174 - This act exempts interest received on deposits held at a federal reserve bank from Missouri adjusted gross income. (Section 143.121)

This provision is identical to a provision contained in SCS/SBs 46 & 50 (2019).

Current law provides for a tax credit for banking institutions to compensate for franchise taxes paid by banking institutions, as well as a tax credit that may be claimed in the event the corporate franchise tax is repealed by the General Assembly. Because the corporate franchise tax was repealed beginning January 1, 2016, for all tax years beginning on or after January 1, 2020, this act disallows the tax credit designed to compensate for the franchise tax. (Section 148.064)

This provision is identical to SB 175 (2019) and HB 455 (2019).

This act is identical to provisions contained in SCS/HCS/HB 333 (2019).



No Amendments Found.