FIRST REGULAR SESSION
92ND GENERAL ASSEMBLY
INTRODUCED BY REPRESENTATIVES COOPER (120), STEVENSON, SUTHERLAND, GOODMAN,
SMITH (118) (Co-sponsors) AND YATES.
Read 1st time February 19, 2003, and copies ordered printed.
STEPHEN S. DAVIS, Chief Clerk
AN ACT
To repeal section 143.481, RSMo, and to enact in lieu thereof two new sections relating to Missouri income tax returns.
Be it enacted by the General Assembly of the state of Missouri, as follows:
Section A. Section 143.481, RSMo, is repealed and two new sections enacted in lieu thereof, to be known as sections 143.481 and 143.482, to read as follows:
143.481. An income tax return with respect to the tax imposed by [sections 143.011 to 143.996] this chapter shall be made by the following:
(1) Every resident and nonresident individual who has a Missouri adjusted gross income [of one thousand two hundred dollars or more] which exceeds, in the aggregate, the amount of the taxpayer's Missouri personal exemptions pursuant to section 143.151, Missouri standard deduction pursuant to section 143.131, and any qualified Missouri dependency exemptions pursuant to section 143.161 and who is required to file a federal income tax return;
(2) [Every nonresident individual who has a Missouri nonresident adjusted gross income (Missouri adjusted gross income derived from sources within this state) of six hundred dollars or more and who is required to file a federal income tax return;
(3)] Every resident estate or trust which is required to file a federal income tax return;
[(4)] (3) Every nonresident estate which has gross income of six hundred dollars or more for the taxable year from sources within this state;
[(5)] (4) Every nonresident trust which for the taxable year has from sources within this state, either
(a) Any taxable income, or
(b) Gross income of six hundred dollars or more regardless of the amount of taxable income;
[(6)] (5) Every corporation which
(a) Is not an exempt corporation described in subsection 2 of section 143.441,
(b) Is required to file a federal income tax return, and
(c) Has gross income from sources within this state of one hundred dollars or more.
143.482. For all tax years beginning on or after January 1, 2003, any taxpayer who is due an individual income tax refund determined pursuant to this chapter, excluding sections 143.191 to 143.265, may request a direct deposit of that refund to a financial institution of the taxpayer's choice that is located in the United States. The direct deposit designation shall be clearly and unambiguously printed on the Missouri state income tax annual return form. The department of revenue may promulgate rules and regulations pursuant to chapter 536, RSMo, to administer this section.