135.329. Credit not allowed, when. - Missouri Statutes

Credit not allowed, when.

135.329. No credit shall be allowable for that portion of thenonrecurring adoption expenses for which a credit is allowable and takenunder any similar provision of federal, state, or local law. Credit may betaken up to the amount allowable under section 135.327 for that portion ofthe nonrecurring adoption expenses which exceed the credit taken under suchother provision of federal, state or local law. If there is a deductionallowable and taken under any other provision of federal, state or locallaw which is similar to the credit allowable under section 135.327, thecredit allowable for nonrecurring adoption expenses shall be reduced by theamount of the decrease in the tax liability resulting from taking suchdeduction. No credit shall be allowable for that portion of thenonrecurring adoption expenses paid from any funds received under anyfederal, state, or local program.

(L. 1987 S.B. 402 § 4, A.L. 1995 H.B. 414)

Effective 1-1-96