143.071. Corporations. - Missouri Statutes

Corporations.

143.071. 1. For all tax years beginning before September1, 1993, a tax is hereby imposed upon the Missouri taxable incomeof corporations in an amount equal to five percent of Missouritaxable income.

2. For all tax years beginning on or after September 1,1993, a tax is hereby imposed upon the Missouri taxable income ofcorporations in an amount equal to six and one-fourth percent ofMissouri taxable income.

(L. 1972 S.B. 549, A.L. 1993 S.B. 380)

(2000) Member institutions of the Farm Credit System, which are federal instrumentalities, are exempt from state income taxation; silence of the federal statute does not constitute express congressional consent to tax. Production Credit Ass'n. v. Director of Revenue, 10 S.W.3d 142 (Mo.banc), certiorari granted 120 S.Ct. 2716, 68 USLW 3725.