What do I need to provide to the Missouri Department of Revenue if I claim non-business or wholly passive investment income (non-Missouri source income)?
For non-business income, a schedule must be attached that clearly states the nature and/or source of the non-business income in order to be considered by the Missouri Department of Revenue. The schedule must state the reasons that the income is being allocated. For example, a corporation owns a ten story building. The first two stories are used for the corporation’s headquarters and the remaining eight floors are rented to an unrelated company. The rental income for the remaining eight floors is non-business income as it is incidental to the corporation’s main business activity. Wholly passive investment income from outside Missouri will be considered only with an attached detailed explanation. Missouri corporate income tax is imposed upon Missouri taxable income. Missouri taxable income shall be so much of a corporation’s federal taxable income for the taxable year with modification as is derived from sources within Missouri as provided.
Related Questions
- What do I need to provide to the Mississippi Department of Revenue if I claimed non-business or wholly passive investment income (non-Mississippi source income)?
- What do I need to provide to the Missouri Department of Revenue if I claim non-business or wholly passive investment income (non-Missouri source income)?
- What do I need to provide to the Missouri Department of Revenue if I claim non-business or non-Missouri source income?
