PURPOSE: The director of revenue has the responsibility of administering the Missouri income tax laws and, in that capacity, is required to interpret the taxing statute. This rule sets forth the interpretation of Chapter 143, RSMo by the Missouri Department of Revenue regarding income taxation of domestic international sales corporations.

PUBLISHER’S NOTE: The secretary of state has determined that publication of the entire text of the material that is incorporated by reference as a portion of this rule would be unduly cumbersome or expensive. This material as incorporated by reference in this rule shall be maintained by the agency at its headquarters and shall be made available to the public for inspection and copying at no more than the actual cost of reproduction. This note applies only to the reference material. The entire text of the rule is printed here.

1. (1) Any corporation which satisfies the requirements of Section 992 of the Internal Revenue Code of 1986 for a taxable year and is excepted from the imposition of federal income taxes as a domestic international sales corporation (DISC) shall not be subject to the Missouri income tax on corporations for that same taxable year.

AUTHORITY: section 143.961, RSMo 2016.* Original rule filed July 13, 1976, effective Oct. 11, 1976. Amended: Filed July 13, 2023, effective Feb. 29, 2024.

*Original authority: 143.961, RSMo 1972.