Section 16 Ordering and Use of State Tax Credits

LibraryTax Law 2009

In addition to the credits that are used to determine the income-based component of the Missouri Bank Tax, banks can utilize other credits that can be claimed against various Missouri taxes. These credits include:

  • tax credits available for economic development
  • low-income housing; and
  • neighborhood assistance

In 1995, § 148.064, now RSMo Supp. 2007, was enacted to define the order and method of how these credits are used by banks. Under § 148.064.1, these credits are applied to:

  • first, the...

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