PURPOSE: The comptroller of the currency has authorized national banks to engage in tax preparation activities. Absent similar powers, state-chartered banks are at a competitive disadvantage. This rule authorizes state-chartered banks to engage in the same activities. Since this rule is issued under the so-called ‘’wild card’’ provisions of section 362.105.3., RSMo, the powers authorized in this rule cannot be significantly more liberal than those granted to national banks.

State-chartered banks, either directly or through a subsidiary, may provide individuals, businesses and nonprofit organizations tax preparation services.

AUTHORITY: sections 361.105 and 362.105.3, RSMo 1986.* This rule originally filed as 4 CSR 140-6.056. Original rule filed Jan. 5, 1987, effective April 1, 1987. Moved to 20 CSR 1140-6.056, effective Aug. 28, 2006. *Original authority: 361.105, RSMo 1967; and 362.105.3, RSMo 1939, amended 1949, 1963, 1965, 1967, 1977, 1983, 1986.