Form Mo-Nbi - Nonbusiness Income Schedule Page 2
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2“Business Income” is income arising from transactions and activities in the regular course of the taxpayer’s
trade or business and includes some income from tangible and intangible property if the acquisition,
management, and disposition of the property constitute integral parts of the taxpayer’s regular trade or
business operations.
Example: The taxpayer is engaged in the heavy construction business and uses equipment such as cranes
and tractors. The taxpayer makes short-term leases of the equipment when the equipment is not needed
on any particular project. The rental income is business income.
“Nonbusiness Income” means all income other than business income.
Example: The taxpayer operates a multistate chain of grocery stores. It purchases as an investment
an office building in another state with surplus funds and leases the entire building to others. The net rental income
is not business income of the grocery store trade or business. Therefore, the net rental income is nonbusiness
income.
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Form MO-NBI (Revised 12-2014)
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Parent category: Financial