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.

Editor’s Note: The secretary of state has determined that the publication of this rule in its entirety would be unduly cumbersome or expensive. The entire text of the material referenced has been filed with the secretary of state. This material may be found at the Office of the Secretary of State or at the headquarters of the agency and is available to any interested person at a cost established by state law.

1. (1) Any corporation which satisfies the requirements of Section 992 of the Internal Revenue Code of 1954 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 (1986).* Original rule filed July 13, 1976, effective Oct. 11, 1976.

   *Original authority 1972.