Effective - 28 Aug 2002
148.610. Definitions. — For the purposes of sections 148.610 to 148.700, providing for the taxation of credit unions and savings and loan associations, the following terms mean:
(1) "Association", a savings and loan association or building and loan association organized under the laws of this state, any other state, or under the laws of the United States and having an office in this state;
(2) "Credit union", a credit union organized under section 370.010 of the laws of this state or the United States and located within this state, the principal business of which, during the taxable year, consisted of receiving the savings of members and making loans to members;
(3) "Director", the director of revenue;
(4) "Income period", 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) "Taxable in another state", a taxpayer is taxable in another state if, by reason of business activity in another state, it is subject to and did pay one of the types of taxes specified: a net income tax, a franchise tax measured by net income, a franchise tax for the privilege of doing business, or a corporate stock tax. The taxpayer must carry on business activities in another state. If the taxpayer voluntarily files and pays one or more of such taxes when not required to do so by the laws of that state or pays a minimal fee for qualification, organization or for the privilege of doing business in that state, but does not actually engage in business activities in that state, and does not have business facilities in that state or does actually engage in some activity, not sufficient for nexus, and the minimum tax bears no relation to the taxpayer's activities with such state, the taxpayer is not taxable in another state;
(7) "Taxable year", the calendar year in which the tax is payable;
(8) "Taxpayer", any credit union or savings and loan association subject to any tax imposed by sections 148.600 to 148.710.
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(L. 1982 H.B. 949 & 1350, A.L. 1993 H.B. 105 & 480, A.L. 2002 S.B. 895)
Structure Missouri Revised Statutes
Title X - Taxation and Revenue
Chapter 148 - Taxation of Financial Institutions
Section 148.010 - Title of law.
Section 148.020 - Definitions.
Section 148.030 - Banks subject to tax based on income — rate — credits.
Section 148.031 - Substitute bank franchise tax.
Section 148.040 - Definitions and computation of net and gross income.
Section 148.045 - Computation of deduction, taxpayer files consolidated return.
Section 148.050 - Returns, when filed.
Section 148.062 - Franchise tax, administered how.
Section 148.068 - Tax assessed, when, supplemental assessment.
Section 148.070 - Notice of deficiency, time limitations.
Section 148.072 - Interest, additions to tax, penalties, due when.
Section 148.074 - Overpayment of tax, director may credit against other tax liability, when.
Section 148.076 - Claims for refund, filed when, how — amount, limitations.
Section 148.080 - Taxes returned to counties — two percent to state — director to allocate.
Section 148.085 - Recording and depositing of tax receipts, how.
Section 148.090 - New banks, when taxed — tax, when due.
Section 148.100 - Director to prescribe and publish rules and regulations — access to records.
Section 148.110 - Tax in lieu of other taxes.
Section 148.112 - Distribution of franchise tax credit for bank S corporation shareholders.
Section 148.120 - Title of law.
Section 148.130 - Definition of terms.
Section 148.140 - Credit institutions subject to annual tax — rate — credits.
Section 148.150 - Net income and gross income defined — how computed.
Section 148.160 - Returns, when filed — extension of time — interest.
Section 148.170 - Taxpayer with more than one office, returns of.
Section 148.180 - Tax due, when — credit for overpayment — penalty for nonpayment.
Section 148.190 - Notice to taxpayer of increase of tax — review of director's determination.
Section 148.200 - Director to prescribe necessary rules and regulations — access to records.
Section 148.210 - Credit institution subject to tax for year in which franchise is received.
Section 148.230 - Tax in lieu of certain other taxes.
Section 148.310 - Real and tangible personal property to be assessed and taxed under general laws.
Section 148.320 - Tax on premiums of domestic stock companies — rate — credits.
Section 148.340 - Tax on premiums of foreign companies.
Section 148.360 - County foreign insurance tax money distributed to school districts.
Section 148.370 - Insurance companies, tax on premiums — rate — credit.
Section 148.375 - Delinquent taxes, interest, rate.
Section 148.390 - Deductions allowed on premium receipts.
Section 148.400 - Deductions allowed insurance companies.
Section 148.410 - Director to assess tax where no return made.
Section 148.430 - Director of revenue may sue for taxes when company withdraws or is suspended.
Section 148.440 - Occupation tax in certain cities.
Section 148.450 - Notices, how given.
Section 148.460 - Penalties for violations by agents.
Section 148.540 - Association and members, levy and collection — exclusiveness of tax.
Section 148.541 - Delinquent taxes, interest.
Section 148.610 - Definitions.
Section 148.620 - Annual tax on net income, rate — credits allowed, exceptions.
Section 148.655 - Tax credit allowed for S corporation shareholders of associations, amount.
Section 148.657 - Tax credit allowed for S corporation shareholders of credit institutions, amount.
Section 148.680 - Hearing procedure on disputed amount — appeal.
Section 148.690 - First taxable year, when, how computed.