Taxation Law
HB 1063 – Property assessments. (See Property Law)
HB 1072 – Redefines state agency. Adds housing authorities to the definition of “state agency” for purposes of income tax offsets.
HB 1077 - Income tax on nonresident officials of professional athletic leagues. Taxes income of nonresident officials of professional athletic leagues.
HB 1085 – Health coverage tax credit. Allows certain health insurance plans to be available as a state-qualified health coverage option for purposes of the federal health coverage tax credit.
HB 1413 – Fairness for Missouri Business Act. (See Business Law)
HB 1533 – Eminent domain. Prohibits commencement of condemnation proceedings and tax abatement grants prior to January 1, 2007.
HJR 31 – Restricts jurisdiction of the courts. Proposes a constitutional amendment restricting state court jurisdiction in the areas of taxing and spending. Oppose – reduces court’s jurisdiction.
HJR 33 – Personal property of manufacturers. Proposes a constitutional amendment requiring any replacement tax levy for loss in revenue from the exemption of certain personal property of manufacturers to be adjusted according to the Constitution.
HJR 35 – Property tax for veterans organizations. (See Military/Veterans Law)
HJR 36 – Property tax of active duty military residents. (See Military/Veterans Law)
SB 564 – Adoption tax credits. Allows use of available credits for nonresident adoptions under certain circumstances.
SB 565 – Tax deduction. Creates a tax deduction for organ donation.
SB 594 – Property tax. Allows senior citizens to defer property tax payments
SB 595 – Property tax. Requires amount of taxes paid to another state for property taxes to be added back in income tax calculation
SB 600 – Organ donation. Creates an income tax deduction for organ donation.
SB 604 – Tax exemptions. Increases income tax exemption for retirement and pension income.
SB 605 – Tax credit. Provides a tax credit for contributions to pregnancy resource centers
SB 614 – Income tax credit. Creates an income tax credit for contributions to residential treatment agencies.
SB 622 – Tax deduction. Creates an income tax deduction for small businesses and farmers that provide health insurance coverage for employees.
SB 630 – Tax credits. Modifies eligibility requirements for the Homestead Preservation Tax. Credit.
SB 668 – Tax deduction. Creates an income tax deduction for organ donation.
SB 672 - Tax increment financing law. Limits the use of tax increment financing to instances when the municipality has made a finding that the area is blighted or a conservation area and it is located in the central business district. Outlines other limitations. Provides that twenty-five percent of the property tax increment to be passed on to taxing entities entitled to receive revenue from property tax revenues throughout the entire repayment period of the project. Where a project includes residential uses, absent a recommendation to the contrary from commission members representing the affected school boards, the real property tax increment attributable to the residential portion of the project will pass through to the affected school districts. Taxing entities providing emergency services will be reimbursed for direct costs. Such reimbursement may not be less than twenty-five percent nor more than one hundred percent of the district’s increment. Adds reporting requirements for municipalities and developers engaged in tax increment financing projects.
SB 678 – Tax collection. Repeals quarterly tax collections report requirement for temporary tax collection.
SB 709 – Sales tax. Subjects certain sales at prison stores to state sales tax.
SB 717 - Modifies various tax provisions.
(1) Decouples Missouri’s income tax from the federal income tax code. The act adopts the IRC as it was written January 1, 2004;
(2) Reinstates the decoupling from the federal accelerated depreciation and makes it permanent;
(3) Eliminates the timely filing discount for employers who withhold their employees’ income tax;
(4) Modifies the way losses and operating expenses are deducted among parties for various types of property, including intellectual property. Minimum standards are established regarding what connections among various corporate entities constitute related parties and affiliated groups for multi-state corporate income tax purposes. Under this provision, the entire profit of a unitary group will be aggregated and then divided among the members of the group. This allocation will be based upon the relative incomes of the members, without regard to intra-group transfers of these certain targeted operating expenses (“Geoffrey” scenario). The effect of this provision will be to eliminate income classified by the courts as “non-Missouri source income;”
(5) Eliminates the filing of single factor apportionment for multi-state income tax calculations;
(6) Restricts the current definition of “common carrier” for purposes of qualifying for a state and local sales and use tax exemption; and
(7) Prohibits retailers from obtaining refunds of sales and use taxes without crediting the original purchasers. In the case of over-collections of less than $1,000, such over-collections may be refunded without the higher burden of returning the funds to the purchaser. The $1,000 threshold is an aggregate sum over a five-year period. In the alternative, a retailer, upon submission of an approved plan by the Director of the Department of Revenue, may offer fixed value coupons to customers to satisfy the distribution of the over-collections.
SB 741 – Tax deduction. Permits an income tax deduction for amount of retirement or pension income taxed by another state
SB 743 – Tax-Me-More Voluntary Fund. Gives citizens an option to pay more income taxes by creating the “Tax-Me-More Voluntary Fund.”
SB 811 – Medical malpractice insurance. (See Insurance Law)
SB 832 – Modifies Missouri’s tax increment financing law. (See Eminent Domain Law)
SB 911 – Estate tax. Repeals the estate tax.