Form 5071 - Corporation Investments In Or Advances To Subsidiaries Schedule Page 2
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1
2Schedule 5071, CORPORATION INVESTMENTS IN OR
ADVANCES TO SUBSIDIARIES SCHEDULE
This information is for guidance only and does not state the complete law.
1. Complete and file with each Schedule MO-FT or Form
6. Cross-company advances may be deducted when all of
INT-2-1 when claiming a deduction for investments in
the following conditions are met:
or advances to subsidiaries (Line 2b).
a. The entities involved in the transaction must be
connected in an uninterrupted chain of ownership
2. Identify the full name of each subsidiary. The entity
of more than fifty percent (50%) of the voting stock;
must be a corporation. Limited liability companies and
and
partnerships are not allowable.
b. Both the entity claiming the deduction and the entity
receiving the advance must be corporations; and
3. Complete the amount of investment in or advances to
c. All of the entities connecting the corporations
subsidiaries.
involved in the transaction must be corporations;
and
4. Provide the percentage of ownership. The corpora-
d. The deduction may only be taken on one corporation’s
tion claiming the deduction must own more than fifty
franchise tax schedule.
percent (50%) of the voting stock of the subsidiary.
7. Intercompany receivables deducted on Line 2b may not
5. Assets advanced “upward” from a subsidiary to a
be included in Schedule MO-FT or Form INT-2-1, Line
parent may be deducted under the same conditions
3a.
ap plic able to advances from parent to subsidiary.
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