Missouri Revised Statutes

Mo. Rev. Stat. § 148.030 (2026)

Banks subject to tax based on income

✓ current as of May 2026

Find cases: SyfertCases citing this section MO-REVrevisor.mo.gov Justiaon Justia CornellLII Search CasesGoogle Scholar

148.030. Banks subject to tax based on income — rate — credits. — 1. Every banking institution shall be subject to an annual tax for the privilege of exercising its corporate franchises within the state determined in accordance with subsection 2 of this section.

2. The annual franchise tax imposed by subsection 1 of this section shall be the sum of the amounts determined under subdivisions (1) and (2) of this subsection:

(1) For taxable years beginning after December 31, 1986, the amount determined under this subdivision shall be determined in accordance with section 147.010;

(2) The amount determined under this subdivision shall be seven percent of the taxpayer's net income for the income period, from which product shall be subtracted the sum of the amount determined under subdivision (1) of this subsection and the credits allowable under subsection 3 of this section. However, the amount determined under this subdivision shall not be less than zero.

3. For purposes of subdivision (2) of subsection 2 of this section, the allowable credits are all taxes paid to the state of Missouri or any political subdivision thereof during the relevant income period, including, without limitation, state and local sales and use taxes paid to seller's, vendors, or the state of Missouri with respect to the taxpayer's purchases of tangible personal property and the services enumerated in chapter 144. However, a taxpayer shall not be entitled to credits for taxes on real estate and tangible personal property owned by the taxpayer and held for lease or rental to others, contributions paid pursuant to the unemployment compensation tax law of Missouri, taxes imposed by this law, taxes imposed under chapter 147 for taxable years after 1985, or state and local sales and use taxes collected by the taxpayer on its sales of tangible personal property and the services enumerated in chapter 144.

--------

(L. 1945 p. 1921 § 3, A. 1949 S.B. 1031, A.L. 1971 H.B. 169, A.L. 1972 H.B. 1054, A.L. 1986 H.B. 1195, A.L. 1987 H.B. 349)

Effective 1-1-88

Notes of Decisions

Cited in 9 cases, 1969–1996 · leading case: Centerre Bank of Crane v. Dir. of Revenue, 744 S.W.2d 754 (Mo. 1988).

Sort: Relevance Newest Treatment

Centerre Bank of Crane v. Dir. of Revenue, 744 S.W.2d 754 (Mo. 1988). · cites it 17× “This appeal presents three questions: (1) whether Missouri’s bank tax, Section 148.030, RSMo 1978, is a nondiscriminatory franchise tax which falls outside the prohibition of 31 U.”

Com. Bank of St. Louis Cnty. v. James, 658 S.W.2d 17 (Mo. 1983). · cites it 2× “Each year, the bank has claimed such payment as a credit against the Missouri Bank Tax as provided in § 148.030, RSMo 1978. 1 The terms of which are as follows: 148.”

Citizens Bank & Trust Co. v. Dir. of Revenue, State of Missouri, 639 S.W.2d 833 (Mo. 1982). · cites it 3× “Section 148.030, RSMo 1978, the revenue statute pursuant to which the Bank claimed credit for its real estate taxes states: 1.”

William A. Straub, Inc. v. City of St. Louis, 506 S.W.2d 377 (Mo. 1974). · cites it 8× “Section 148.030 established a tax of seven per cent of net income of banks, less certain enumerated credits for other taxes paid, and § 148.”

McKay Buick, Inc. v. Spradling, 529 S.W.2d 394 (Mo. 1975). · cites it 4× “Louis where the bank had paid the taxes assessed against it under § 148.030, RSMo 1969. Section 148.030 imposed a tax of 7% of the bank’s net income and § 148.”

Mercantile Bank Nat'l Ass'n v. Berra, 796 S.W.2d 22 (Mo. 1990). · cites it 2× “The legislature promptly responded with the adoption of the Bank Tax Law of 1946, codified at § 148.030, RSMo, which provided for a franchise tax to be exacted on each bank at a rate fixed at seven percent of its net income, minus the greater of twenty-five dollars or…”

First Nat'l Bank of Callaway Cnty. v. Dir. of Revenue, 931 S.W.2d 471 (Mo. 1996). · cites it 6× “Because this appeal involves the construction of a revenue statute, § 148.030, RSMo 1986, this Court has jurisdiction.”

Mercantile Trust Co. Nat'l v. Missouri State Tax Comm'n, 446 S.W.2d 751 (Mo. 1969). · cites it 9× “It is whether the 1965 bank tax liability of respondent Bank (Mercantile Trust Company, a State bank, which converted into Mercantile Trust Company National Association, a National bank, on December 24, 1964), is measured at the rate of seven per cent (under § 148.030, RSMo…”

Comptroller of the Treasury v. Maryland Nat'l Bank, 408 A.2d 753 (Md. Ct. Spec. App. 1979). “, Mo. Rev. Stat. § 148.030 (1969). In addition, other States taxed banking organizations separately from other corporate entities, and a repeal of immunity might well have resulted in “double taxation” for banks in such States.”

Annotations are extracted automatically from the opinions in the Syfert caselaw corpus and ranked by authority, recency, and treatment. Dots show Syfertize treatment of the citing case itself.