• Missouri — Tax Rate Cut, Apportionment, and more

    Dear client:

     Missouri has enacted legislation making major tax changes that may affect your business. Perhaps most significantly, beginning in 2020, the corporate tax rate will decrease from 6.25% to 4.0%.

     Also, beginning in 2020, Missouri will begin requiring taxpayers to use a single sales factor apportionment formula to assign their business income to the state. The rules for assigning sales of services or intangibles to the state will change as well.

     For affiliated groups, the legislation revises the requirements for filing consolidated returns.

     Our office is available to help you understand these changes in the law. If you would like to discuss potential planning strategies that can help you take advantage of the changes and minimize any possible tax increases, please call to arrange an appointment at your earliest convenience.


    Sincerely yours,

    Holt & Patterson, LLC