Missouri Code of State Regulations — Title 12 (Department of Revenue)
12 CSR 10-10.155
Bank Tax/Sales Tax Credit
PURPOSE: This rule establishes the taxable year when the sales tax credits may be taken, in accordance with section 148.030.3., RSMo.
# (1)
Beginning with taxable year 1987, all state and local sales and use taxes paid by banks as purchasers to sellers, vendors or Missouri on purchases of tangible personal property and services enumerated in Chapter 144, RSMo shall be creditable against the bank tax imposed under section 148.030, RSMo.
# (2)
All state and local sales and use taxes, taken as a credit, will not be allowed as a deduction in computing taxable income.
AUTHORITY: section 148.100, RSMo 1986.* Original rule filed
March 2, 1987, effective Aug. 13, 1987.
*Original authority: 148.100, RSMo 1945.
Amendment history
AUTHORITY: section 148.100, RSMo 1986.* Original rule filed March 2, 1987, effective Aug. 13, 1987. *Original authority: 148.100, RSMo 1945.
Source: view the official PDF
In this chapter (24 sections)
- 12 CSR 10-10.010 · Sales Tax/Bank Tax Credit
- 12 CSR 10-10.020 · Allocation of Bank Tax
- 12 CSR 10-10.030 · Statute of Limitations for Bank Tax
- 12 CSR 10-10.040 · Statute of Limitations for Credit Union and Savings…
- 12 CSR 10-10.050 · Statute of Limitations for Credit Institutions Tax
- 12 CSR 10-10.060 · Multiple Assessments of Credit Unions and Savings…
- 12 CSR 10-10.070 · Extension of Time to File Credit Unions and Savings…
- 12 CSR 10-10.080 · Multiple Assessments of Credit Institutions for a…
- 12 CSR 10-10.090 · Extension of Time to File Credit Institutions Tax…
- 12 CSR 10-10.100 · Multiple Assessments of Banking Institutions for a…
- 12 CSR 10-10.110 · Extension of Time to File Bank Tax Returns
- 12 CSR 10-10.120 · Delinquent Interest Rate for Insurance Premium and…
- 12 CSR 10-10.125 · Income Period
- 12 CSR 10-10.130 · Bank Franchise Tax
- 12 CSR 10-10.135 · Federal Income Tax Deduction
- 12 CSR 10-10.140 · Interest, Additions to Tax and Penalty
- 12 CSR 10-10.145 · Refund of Overpayment of Bank Tax— Refund From Other…
- 12 CSR 10-10.150 · Tax Credits on Bank Tax Return
- 12 CSR 10-10.155 · Bank Tax/Sales Tax Credit
- 12 CSR 10-10.160 · Neighborhood Assistance Credit (NAC)
- 12 CSR 10-10.165 · Method of Computing Federal Income Tax Deduction for…
- 12 CSR 10-10.170 · Method of Computing Federal Income Tax Deduction for…
- 12 CSR 10-10.175 · Personal Property Tax Credits—Definition,…
- 12 CSR 10-10.180 · Interest Earned by Banking Institutions From the…