Missouri Code of State Regulations — Title 12 (Department of Revenue)
12 CSR 10-2.090
Computation of Federal Income Tax Deduction for Consolidated Groups
PURPOSE: This rule sets out the formula that will be used to determine the federal income tax deduction of a member of the affiliated group for each taxable year an affiliated group of corporations filed a federal consolidated income tax return and did not file a Missouri consolidated income tax return.
PUBLISHER’S NOTE: The secretary of state has determined that publication of the entire text of the material that is incorporated by reference as a portion of this rule would be unduly cumbersome or expensive. This material as incorporated by reference in this rule shall be maintained by the agency at its headquarters and shall be made available to the public for inspection and copying at no more than the actual cost of reproduction. This note applies only to the reference material. The entire text of the rule is printed here.
(1) For each taxable year an affiliated group of corporations filing a federal consolidated income tax return does not file a Missouri consolidated income tax return, the federal income tax deduction of a member of the affiliated group shall be determined by applying the formula set forth as follows:
# (A)
The group’s consolidated federal income tax liability under Chapter 1 of the Internal Revenue Code (IRC) for the same taxable year for which the Missouri return is being filed after reduction for all credits on the return, except for the credit for the overpayment of any federal tax and the credits allowed by the IRC of 1986 by Section 31 (tax withheld on wages), Section 27 (taxes of foreign countries and possessions of the United States) and Section 34 (certain uses of gasoline and special fuels) shall be multiplied by a fraction, the numerator of which shall be the federal taxable income of the member in question and the denominator of which shall be the sum of the federal taxable incomes of each member of the consolidated group with a positive federal taxable income; and
# (B)
The product computed in subsection (1)(A) shall be multiplied by the apportionment factor of the member in question calculated under section 143.455, RSMo, or such other apportionment factor as is computed under the apportionment method applicable to the member in question.
AUTHORITY: sections 143.431 and 143.961, RSMo 2016.* Original rule filed Feb. 24, 1984, effective June 11, 1984. Amended: Filed
Aug. 17, 1984, effective Dec. 13, 1984. Amended: Filed Nov. 9, 2023, effective May 30, 2024.
*Original authority: 143.431, RSMo 1972, amended 2004, 2007, 2018, and 143.961, RSMo 1972.
Amendment history
AUTHORITY: sections 143.431 and 143.961, RSMo 2016.* Original rule filed Feb. 24, 1984, effective June 11, 1984. Amended: Filed Aug. 17, 1984, effective Dec. 13, 1984. Amended: Filed Nov. 9, 2023, effective May 30, 2024. *Original authority: 143.431, RSMo 1972, amended 2004, 2007, 2018, and 143.961, RSMo 1972.
Source: view the official PDF
In this chapter (40 sections)
- 12 CSR 10-2.016 · Quarter-Monthly Period Reporting and Remitting…
- 12 CSR 10-2.017 · Transient Employer Financial Assurance Instrument for…
- 12 CSR 10-2.019 · Determination of Withholding for Work Performed at…
- 12 CSR 10-2.020 · Difference in Basis on December 31, 1972
- 12 CSR 10-2.025 · Adjustment to Avoid Double Taxation
- 12 CSR 10-2.030 · Non-Standard Tax Periods, Subsequent Change of…
- 12 CSR 10-2.035 · Conformity of Missouri With Federal Accounting Methods
- 12 CSR 10-2.040 · Transitional Adjustments in Accounting Methods
- 12 CSR 10-2.045 · Missouri Consolidated Income Tax Returns
- 12 CSR 10-2.050 · Elective Division of Income
- 12 CSR 10-2.052 · Optional Single Sales Factor
- 12 CSR 10-2.055 · Failure to File Tax Returns
- 12 CSR 10-2.060 · Failure to Pay Tax
- 12 CSR 10-2.065 · Failure to Pay Estimated Tax
- 12 CSR 10-2.067 · Failure to Pay Estimated Tax for Tax Years Ending…
- 12 CSR 10-2.070 · Interest on Overpayments
- 12 CSR 10-2.075 · Multistate Allocation and Apportionment
- 12 CSR 10-2.076 · Allocation and Apportionment (Beginning on or After…
- 12 CSR 10-2.080 · Domestic International Sales Corporations
- 12 CSR 10-2.085 · Credit for New or Expanded Business Facility
- 12 CSR 10-2.090 · Computation of Federal Income Tax Deduction for…
- 12 CSR 10-2.105 · Report of Changes in Federal Income Tax Return
- 12 CSR 10-2.110 · Penalty for Filing Incomplete or Misleading Income…
- 12 CSR 10-2.115 · Enterprise Zone Credit and Exemption
- 12 CSR 10-2.120 · Information at Source Reporting Requirements
- 12 CSR 10-2.125 · Cultural Contributions PURPOSES: This rule…
- 12 CSR 10-2.130 · Allocation of Taxable Social Security Benefits…
- 12 CSR 10-2.135 · Frivolous Returns
- 12 CSR 10-2.140 · Partnership Filing Requirements
- 12 CSR 10-2.145 · Regulation for Computation of Interest on Investment…
- 12 CSR 10-2.150 · Tax Exempt Status of United States Government-Related…
- 12 CSR 10-2.155 · Regulated Investment Companies
- 12 CSR 10-2.160 · State Income Tax Deduction Add-Back
- 12 CSR 10-2.165 · Net Operating Losses on Corporate Income Tax Returns
- 12 CSR 10-2.170 · Wood Energy Credit
- 12 CSR 10-2.175 · Agricultural Unemployed Person
- 12 CSR 10-2.180 · Public Law 86-272 Immunity
- 12 CSR 10-2.190 · Partnership and S Corporation Annual Return Filing…
- 12 CSR 10-2.195 · Special Needs Adoption Tax Credit
- 12 CSR 10-2.200 · Trucking Companies