General Instructions-Savings And Loan Tax Return printable pdf download

GENERAL INSTRUCTIONS — SAVINGS AND LOAN TAX RETURN

Section 148.610 – 148.710, RSMo

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

This form must be completed and filed by April 15 of this year. The

must 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 15. 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 1.

Enter the amount of taxable income (loss) from Federal

Line 8.

Enter deductions claimed on the federal return which are

Form 1120, Line 28, before any net operating loss

not allowable on this return and income not included on

deduction or special deduction is applied, or Federal

the federal return which is required to be included on this

Form 1120S, Line 21.

return. Attach a detailed schedule.

Line 2.

Enter all income received from state and/or political

Line 9.

Enter the total of Lines 1 through 8.

subdivision obligations excluded on the federal return.

Explain if different from tax‑exempt interest shown on the

PART II

federal return.

Line 10.

Enter the amount of actual bad debt charge offs.

Line 3.

Enter all income received from federal government

se cur i ties excluded from the federal return.

Line 11.

Enter the current year deduction for federal income

taxes. The current year deduction will be the amount

Line 4.

Enter the bad debt claimed on the federal return or

actually accrued (if an accrual basis taxpayer) or paid

any additions to a bad debt reserve claimed as a

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

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

taxpayers that are members of an affiliated group filing

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

a consolidated federal income tax return shall allocate

appropriate box, indicate the bad debt method used on

its consolidated federal tax liability among the members

the federal return.

of the group for the year by using the method elected

to allocate earnings and profits by the group under

Line 5.

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

Internal Revenue Code Section 1552, without regard

previously charged off over current year’s charge offs.

to any additional allocations under Treasury Regulation

Attach schedule of bad debt computation.

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

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

Line 6.

Enter the amount of Missouri Savings and Loan tax

(imposed by Chapter 148, RSMo) deducted on the

Cash basis taxpayers that are members of an affiliated

federal return.

group filing a consolidated federal income tax return

shall allocate the consolidated tax paid or refunded

Line 7.

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

during the year by using the method elected to allocate

amount of taxes claimed as a deduction on the federal

earnings and profits by the group under Internal

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

Rev e nue Code Section 1552 for the applicable year

includes all taxes paid directly to the State of Missouri or

without regard to any additional allocations under

any political subdivision thereof, except taxes on tangible

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

personal property owned by the taxpayer and held for

made, the taxpayer shall allocate according to Section

lease or rental to others, contributions paid pursuant to the

1552(1)(1), IRC.

unemployment compensation law of Missouri, real estate

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

Line 12.

Enter the amount of charitable contributions actually

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

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

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

the federal return. Attach a schedule of charitable

return. Please submit the schedule of taxes deducted on

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

the federal return for verification purposes. The savings

and loan assessment fee is not an allowable credit. The

Line 13.

Enter the total amount of any deduction claimed on this

annual registration fee is not an allowable credit because it

return and not included on the federal return. These

is not a tax.

deductions must be itemized on a schedule attached to

this return.

DOR‑INT‑3_Instructions (12‑2012)

General Instructions-Savings And Loan Tax Return

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