Section 33 Division of Deductions

• Library: Tax Law 2009

Because the multiplicand to which the apportionment factor obtained under § 143.451.2(2), RSMo 2000, or the provisions of Article IV of the Multistate Tax Compact, § 32.200, RSMo 2000, is applied to “net income,” § 143.451.2(2)(b); Compact, Article IV, § 2, deductions generally are effectively apportioned to Missouri in the same proportion as income. The deduction for federal income taxes and the net operating loss deduction are both specifically allowed only to “the extent applicable to Missouri.” Section...