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Missouri Code of State Regulations — Title 12 (Department of Revenue)

12 CSR 10-10.145

Refund of Overpayment of Bank Tax— Refund From Other County

Official textsos.mo.govlast amended 11 subsections

PURPOSE: This rule establishes an effective date and period for which bank franchise tax refunds may be issued, as provided by sections 148.050, 148.062 and 148.076, RSMo.

# (1)

This rule shall only apply for the purpose of refunds of overpayments of taxes paid pursuant to section 148.030, RSMo.

# (2)

Credits will be allowed for credits approved by the director for taxable years prior to 1987.

# (3)

Interest will be allowed on any overpayments at a rate in accordance with section 143.811, RSMo if the overpayment is not refunded within one hundred twenty (120) days of the due date or date the return was filed, whichever occurs later.

# (A)

Interest shall be allowed on any overpayment resulting from the filing of an amendment of the tax by the taxpayer for taxable year 1987 and after that on or before the last day prescribed for filing of the return without regard for any extension of time at the rate established by section 143.811, RSMo.

# (B)

Interest shall be allowed on any overpayment where the overpayment resulted from filing of an amendment of tax by the taxpayer for taxable year 1987 and after that following the last date prescribed for the filing of the return at the rate of six percent (6%) per annum.

# (C)

No interest shall be allowed if the overpayment of tax is refunded within one hundred twenty (120) days after the last date prescribed or permitted by extension of time for filing the return.

# (4)

For purposes of this rule, the last day prescribed for filing shall be April 15 of the taxable year.

# (5)

Overpayments resulting from the calculation of tax in accordance with section 148.030.2(1), RSMo will be refunded from the General Revenue Fund, plus any applicable interest.

# (6)

Overpayments resulting from the calculation of tax in accordance with section 148.030.2(2), RSMo will be refunded if funds are available from the political subdivision(s) in which the institution is located. If funds are not available, the institution will be given a credit or it must apply for a refund of the overpayment from the political subdivision(s) in which the institution is located.

# (7)

All refunds or credits resulting from overpayments must be approved by the department before the refund or credit can be issued.
AUTHORITY: section 148.100, RSMo 1986*. Original rule filed March 2, 1987, effective Aug. 13, 1987. Amended: Filed April 1, 1992, effective Sept. 6, 1992.
*Original authority: 148.100, RSMo 1945.

Amendment history

AUTHORITY: section 148.100, RSMo 1986*. Original rule filed March 2, 1987, effective Aug. 13, 1987. Amended: Filed April 1, 1992, effective Sept. 6, 1992. *Original authority: 148.100, RSMo 1945.

Source: view the official PDF

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In this chapter (24 sections)
  1. 12 CSR 10-10.010 · Sales Tax/Bank Tax Credit
  2. 12 CSR 10-10.020 · Allocation of Bank Tax
  3. 12 CSR 10-10.030 · Statute of Limitations for Bank Tax
  4. 12 CSR 10-10.040 · Statute of Limitations for Credit Union and Savings…
  5. 12 CSR 10-10.050 · Statute of Limitations for Credit Institutions Tax
  6. 12 CSR 10-10.060 · Multiple Assessments of Credit Unions and Savings…
  7. 12 CSR 10-10.070 · Extension of Time to File Credit Unions and Savings…
  8. 12 CSR 10-10.080 · Multiple Assessments of Credit Institutions for a…
  9. 12 CSR 10-10.090 · Extension of Time to File Credit Institutions Tax…
  10. 12 CSR 10-10.100 · Multiple Assessments of Banking Institutions for a…
  11. 12 CSR 10-10.110 · Extension of Time to File Bank Tax Returns
  12. 12 CSR 10-10.120 · Delinquent Interest Rate for Insurance Premium and…
  13. 12 CSR 10-10.125 · Income Period
  14. 12 CSR 10-10.130 · Bank Franchise Tax
  15. 12 CSR 10-10.135 · Federal Income Tax Deduction
  16. 12 CSR 10-10.140 · Interest, Additions to Tax and Penalty
  17. 12 CSR 10-10.145 · Refund of Overpayment of Bank Tax— Refund From Other…
  18. 12 CSR 10-10.150 · Tax Credits on Bank Tax Return
  19. 12 CSR 10-10.155 · Bank Tax/Sales Tax Credit
  20. 12 CSR 10-10.160 · Neighborhood Assistance Credit (NAC)
  21. 12 CSR 10-10.165 · Method of Computing Federal Income Tax Deduction for…
  22. 12 CSR 10-10.170 · Method of Computing Federal Income Tax Deduction for…
  23. 12 CSR 10-10.175 · Personal Property Tax Credits—Definition,…
  24. 12 CSR 10-10.180 · Interest Earned by Banking Institutions From the…
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