HB 2296 -- Annual Corporation Tax Disclosure Statements

Sponsor:  Low

This bill requires a corporation to file an annual tax disclosure
statement if the corporation is publicly traded, is a financial
corporation, employs 50 or more full-time employees as of the
preceding January 1, or has sales in excess of $10 million in the
fiscal year.  The statement must include the corporation's name,
federal industry classification number, registered agent's name,
amount of all tax liabilities, real and personal property
assessed valuations and the amount of the property taxes,
apportionment factor information, Missouri taxable income,
federal taxable income, and each tax credit claimed.  Personal
service corporations, as defined in Section 269A of the Internal
Revenue Code, are exempt from these requirements.

The required statements will be a public record.  The Secretary
of State must develop and implement an oversight and penalty
system to ensure that corporations doing business in Missouri
provide the required information in a timely and accurate manner.

Missouri House of Representatives
95th General Assembly, 2nd Regular Session
Last Updated September 14, 2010 at 3:13 pm