General Instructions-Savings And Loan Tax Return printable pdf download

GENERAL INSTRUCTIONS — SAVINGS AND LOAN TAX RETURN

RSMo 148.610 – 148.710

This information is for guidance only and does not state the complete law.

This form must be completed and filed by April 17 of this year. The

shall complete Form 2331, Schedule B listing the address of each

tax for each year is based upon the taxpayer’s net income for the

office or branch and showing the total dollar amount of savings

previous year. An extension of time for filing this return may be

accounts, deposits and/or repurchase agreements of each office

granted by the Director of Revenue. When an extension is granted,

or branch and the total for the association. If an association has an

the taxpayer is required to pay, as part of any tax due, interest

office or offices outside Missouri, the total of the dollar amount of

thereon at the rate determined by Section 32.065, RSMo, from the

deposits and accounts at an office or offices outside Missouri shall

day when such return should have been filed, if no such extension

be excluded in determining the total deposits and accounts of the

had been granted. The annual interest rate can be obtained from the

taxpayer. Schedule B must be completed and submitted with

Department’s web site at Pursuant to Regulation

the Savings and Loan Tax Return.

12 CSR 10‑10.070, an extension of time may not exceed 180 days

All savings and loan associations must complete this tax return

from the due date of April 17. A copy of your Federal Form 1120 or

reflecting their total business activities from all sources. Savings

1120S must be attached to the Missouri Savings & Loan Tax Return.

and loan associations conducting business in multiple states should

refer to the instructions for Line 16.

Review the state law prior to the completion of this tax return,

since the Internal Revenue Code and the state law differ in the

County Code ‑‑ Enter your three digit county code of the principal

accounting for various transactions.

place of your institution from the list provided at the end of these

instructions.

If any association operates more than one office or branch in

Missouri, the association shall file one return. The association

LINE-BY-LINE INSTRUCTIONS

PART I

Line 8.

Enter deductions claimed on the federal return which are

Line 1.

Enter the amount of taxable income (loss) from Federal

not allowable on this return and income not included on

Form 1120, Line 28, before any net operating loss

the federal return which is required to be included on this

deduction or special deduction is applied, or Federal

return. Attach a detailed schedule.

Form 1120S, Line 21.

Line 9.

Enter the total of Lines 1 through 8.

Line 2.

Enter all income received from state and/or political

subdivision obligations excluded on the federal return.

PART II

Explain if different from tax‑exempt interest shown on the

federal return.

Line 10.

Enter the amount of actual bad debt charge offs.

Line 3.

Enter all income received from federal government

Line 11.

Enter the current year deduction for federal income

se cur i ties excluded from the federal return.

taxes. The current year deduction will be the amount

actually accrued (if an accrual basis taxpayer) or paid

Line 4.

Enter the bad debt claimed on the federal return or

(if a cash basis taxpayer) during the year. Accrual basis

any additions to a bad debt reserve claimed as a

taxpayers that are members of an affiliated group filing

de duc tion on the federal return. (The reserve method

a consolidated federal income tax return shall allocate

is not a permissible method on this return.) In the

its consolidated federal tax liability among the members

appropriate box, indicate the bad debt method used on

of the group for the year by using the method elected

the federal return.

to allocate earnings and profits by the group under

Internal Revenue Code Section 1552, without regard

Line 5.

Enter the excess, if any, of recoveries of bad debts

to any additional allocations under Treasury Regulation

previously charged off over current year’s charge offs.

1.1502‑33(d). If no election was made, the taxpayer shall

Attach schedule of bad debt computation.

allocate according to Section 1552(a)(1), IRC.

Line 6.

Enter the amount of Missouri Savings and Loan tax

Cash basis taxpayers that are members of an affiliated

(imposed by Chapter 148, RSMo) deducted on the

group filing a consolidated federal income tax return

federal return.

shall allocate the consolidated tax paid or refunded

during the year by using the method elected to allocate

Line 7.

Enter the total credits from Schedule A of this return. The

earnings and profits by the group under Internal

amount of taxes claimed as a deduction on the federal

Rev e nue Code Section 1552 for the applicable year

return but claimed as a credit on Line 17 of this return

without regard to any additional allocations under

includes all taxes paid directly to the State of Missouri or

Treasury Regulation 1.1502‑33(d). If no election was

any political subdivision thereof, except taxes on tangible

made, the taxpayer shall allocate according to Section

personal property owned by the taxpayer and held for

1552(1)(1), IRC.

lease or rental to others, contributions paid pursuant to the

unemployment compensation law of Missouri, real estate

Line 12.

Enter the amount of charitable contributions actually

taxes, social security taxes, sales and use taxes and taxes

made in excess of the amount allowed, if any, on

imposed by this law. Explain the difference, if any, between

the federal return. Attach a schedule of charitable

the amount shown on Line 7 of this return and the federal

con tri bu tions if not included with the federal return.

return. Please submit the schedule of taxes deducted on

the federal return for verification purposes. The savings

Line 13.

Enter the total amount of any deduction claimed on this

and loan assessment fee is not an allowable credit. The

return and not included on the federal return. These

annual registration fee is not an allowable credit because it

deductions must be itemized on a schedule attached to

is not a tax.

this return.

DOR‑INT‑3_Instructions (10‑2011)

General Instructions-Savings And Loan Tax Return

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