620.1350. Investment funds service corporation may make annual election to compute income derived within state--procedure. - Missouri Statutes

Investment funds service corporation may make annual election tocompute income derived within state--procedure.

620.1350. 1. The words used in this section and sections 620.1355and 620.1360 shall, unless the context otherwise requires, have the meaningprovided in subdivision (4) of subsection 2 of section 143.451, RSMo, andin addition, the following words shall have the following meanings:

(1) "Department", the department of economic development;

(2) "Director", the director of the department of economicdevelopment.

2. An investment funds service corporation or S corporation,certified pursuant to this section and sections 620.1355 and 620.1360, maymake an annual election to compute the portion of income derived fromsources within this state either pursuant to section 143.451, RSMo, orpursuant to section 32.200, RSMo, relating to the multistate tax compact.The annual election shall be made by the filing of a corporate income taxreturn reflecting the use of such election and by filing a copy of thecertificate issued by the director pursuant to the provisions of thissection and sections 620.1355 and 620.1360. The annual election may bemade regardless of whether the corporation filed its income tax return on asingle entity basis or was included in a consolidated income tax return inany year.

(L. 1997 2d Ex. Sess. S.B. 1 § 620.1350 subsecs 1, 2)

Effective 1-1-98