Form Int-2 Draft - Bank Franchise Tax Return

Part 3

applicable year, and the denominator of which is the sum of the separate

Missouri taxable incomes of all members having Missouri income for the

Line 18

Multiply the taxable income amount on Line 17 by 7% and

applicable year.

enter amount. If Line 10 includes income from business activity both

In the computation of separate Missouri taxable income, each member of

within and without the State of Missouri from offices or branches located

a group filing a consolidated Missouri income tax return shall start with its

in such state, the taxpayer may be eligible to apportion the tax. These

separate federal taxable income as computed pursuant to the method

taxpayers shall complete Apportionment Schedule Bank Franchise Tax

applicable to the group under Treasury Regulation 1.1552-1. The

4347) and attach to this return.

(Form

amount of the federal income tax deduction of each member under

Line 19 Enter the amount from Line 8.

Section 143.171.1,

RSMo, shall be that portion of the actual federal

consolidated income tax liability of the group as is required to be

Line 20A Enter the amount of tentative payment (if applicable).

allocated to such member under Internal Revenue Code Section 1552

Line 20B Enter overpayment of previous year’s tax.

without regard to any additional allocations under Treasury Regulation

1.1502-33(d).

Line 20C Enter the amount of tax credits claimed from the list on

the following page.

The following are not allowable credits:

• Sales tax paid to check printer(s) on checks the bank sold to its

Attach a schedule listing the amounts for each tax credit and a copy of the

customers

approved authorization to the return. See

Section 148.064.1,

RSMo, for

• Annual registration fee as this is not a tax

ordering of tax credits. Tax credits can only be used once.

Attach schedule of taxes deducted on Line 17, federal Form 1120 or

Line 20D Enter the approved Enterprise Zone Credit claimed. To

federal Form 1120S, Line 12, for verification purposes.

be eligible for this credit, you must use the percentages from the

second paragraph of the Department of Economic Development (DED)

Line 9 Enter deductions claimed on the federal return which are not

certification letter and attach a copy to the INT-2.

allowable on this return and income not included on the federal return

which is required to be included on this return. (Attach schedule.) The

Compute the allowable Enterprise Zone Credit using the greater of the

environmental tax under Section 59A of the Internal Revenue Code must

following methods.

be added back to income. Any gain from the complete liquidation of

• Line 17 (taxable income) X DED percentage of income X 7%

another corporation that is not recognized because of Section 332 of the

Internal Revenue Code must be added to income.

• Line 18 (tax) less Line 19 X DED percentage of tax

Line 10 Enter the total of Lines 1 through 9.

Line 20E The Bank Franchise Tax Credit is equal to 1/60th of one

Part 2

percent (.000167) of the amount entered on Line 6A or 6B of Schedule

BF, if Line 6A or 6B exceeds one million dollars. Compute the total

Line 11

Enter the excess, if any, of bad debt charge offs over current

available Bank Franchise Tax Credit and enter in the space provided.

year recoveries. Attach schedule of bad debt computation.

Enter the amount claimed on this return on Line 20E. Any unused credit

Line 12

Enter the relevant income period deduction for federal income

may be applied to the corporate income tax liability. Enter the amount to

taxes. The relevant income period deduction is the amount actually

be transferred to corporate income tax in the space provided.

accrued (if an accrual basis taxpayer) or paid (if a cash basis taxpayer)

Line 21 Subtract Line 19 from Line 18. Amount shall not be less than

during the income period.

zero. Subtract Lines 20A through 20E from result above and enter

A taxpayer that is a member of an affiliated group of corporations

amount.

which filed a consolidated federal income tax return shall determine its

Line 22A Calculate interest for period which tax payment is delinquent.

deduction for, or its gross income in respect of federal income taxes paid

Interest is calculated from the due date of April 18 through the date of

or accrued during the income period to the United States as if it and all

payment at the annual interest rate which can be obtained from the

other members of the affiliated group of which it was a member had filed

Department’s website at:

separate federal income tax returns for all relevant income periods.

Line 22B Compute additions to tax, if applicable, and enter on Line 22B.

Line 13

Enter the total amount of any deduction claimed on this return

1. For failure to pay by the due date — multiply Line 21 by 5%; or

and not included on the federal return. These deductions must be

2. For failure to file your return by the due date — multiply Line 21

itemized on a schedule attached to this return.

by 5% for each month late, not to exceed 25%.

Banks that are required to recapture bad debt reserve to income

Line 23 Enter the total of Lines 21, 22A, and 22B. If a balance due, submit

pursuant to 26 USC § 585 should include the dollar amount recaptured

this amount.

to income on Line 13.

Line 14

Enter the total of Lines 11 through 13.

Line 15

Subtract Line 14 from Line 10 and enter amount. If “loss”,

indicate by brackets “( )” and enter “none” on Line 18.

Line 16

Enter the charitable contribution deduction claimed on this

return. The contribution deduction is limited to 5% of taxable income

before the contribution deduction. Contribution carryover from prior

year’s allow ance on federal return is not allowable on this return. Attach

charitable contribution schedule for verification purposes.

Line 17 Subtract Line 16 from Line 15 and enter amount.

*15000000001*

15000000001

Form Int-2 Draft - Bank Franchise Tax Return - 2015 Page 4

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