PURPOSE: This rule establishes the date from which interest shall be imposed on deficiencies arising from investment credit carryback.

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) No interest will be imposed on any deficiency attributable to the carryback of Internal Revenue Code section 46 investment tax credit if an amended Missouri income tax return is filed and the deficiency is paid within ninety (90) days following the due date, including any extensions of time to file, of the federal income tax return for the year in which the credit arises. If an amended Missouri income tax return is not filed within the prescribed period, interest shall begin to accrue on the deficiency of the ninety-first day after the federal due date, without regard for any extensions of time to file.

AUTHORITY: sections 143.601, 143.711 and 143.731, RSMo 1994.* Original rule filed Oct. 1, 1985, effective Dec. 26, 1985.

*Original authority: 143.601 and 143.711, RSMo 1972 and 143.731, RSMo 1972, amended 1982, 1988.