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SB 931 - This act modifies provisions relating to corporations. S CORP AND LLC CAMPAIGN CONTRIBUTIONS The act permits any limited liability company that has not elected to be classified as a corporation under federal law and any S corporation to make campaign contributions to any committee. (Section 130.029) S CORP TAX CREDIT Current law authorizes a tax credit for the amount of income tax paid to another state for income that is also taxed in this state. This act allows such tax credit to be claimed by resident shareholders of an S corporation for the amount of tax imposed by this state on income earned in another state but not taxed by such state. (Section 143.081) This provision is identical to SB 410 (2021). JOSH NORBERG
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