||Repeals the limit on the state income tax deduction for federal
income tax for corporations and replaces revenue lost by the
outstanding schools trust fund with money from general revenue.
Available Bill Summaries for HB1813
Available Bill Text for HB1813
* Introduced *
HB 1813 -- Income Tax: Federal Income Tax Deduction for
This bill authorizes a 100% state income tax deduction for
federal income taxes paid by a corporation. Under current law,
corporations are only allowed to deduct 50% of federal income
The bill also replaces the lost transfers to the Outstanding
Schools Trust Fund resulting from the increased deduction for
federal income taxes paid by corporations with general revenue
The bill will apply to tax year 2000 and thereafter.
Missouri House of Representatives' Home Page
Last Updated October 5, 2000 at 11:34 am