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General Instructions - 2023 Credit Institution Tax Return
Section148.120 – 148.230, RSMo
This information is for guidance only and does not state the complete law.
The Form 2823 must be completed and filed by April 15, 2024 as security for or in payment of the purchase price of consumer
(tax becomes delinquent after this date and is subject to interest). goods exercising such franchise within the state of Missouri,
An extension of time to file this return may be obtained from but shall not include real estate mortgage loan companies,
the Department of Revenue upon written request. Such banks, trust companies, credit unions, insurance companies,
request should indicate the extension period requested, mutual savings and loans associations and savings and loan
the reason for the request and must be accompanied by a associations.
tentative return and payment for the estimated tax due. Credit Institution Tax Return — If any taxpayer shall operate
An extension of time to file the return does not extend the more than one office in Missouri, the taxpayer shall file one
time for payment of the tax. An extension of time may not return giving the physical address of each such office and allo-
exceed 180 days from the original due date pursuant to cating to each office its share of the net income of the taxpayer
Regulation 12 CSR 10-10.090. in the ratio that the gross receipts of that office bears to the total
Filing Requirement — Every person, firm, partnership, or gross receipts of the taxpayer. For each address include the
corporation engaged principally in the consumer credit or loan county in which the address is located in. If there are more than
business in the making of loans of money, credit, goods, 30 locations, please email a list of the locations in a spread-
or things in action, or in the buying, selling or discounting of, sheet, along with this return, to the Department at the e-mail
or investing in, negotiable or non-negotiable instruments given shown at the bottom of the return.
Instructions
Amended Return: Select the box at the top of the form if filing an on this return. All taxes paid directly to the state of Missouri or
amend ed return. any political subdivision thereof are eligible except taxes on real
estate, unemployment taxes, credit institution tax, and taxes on
Federal Extension: Select the box at the top of the form indi- tangible personal property owned by the taxpayer and held for
cating you have an approved federal extension. Attach a copy of lease or rental to others. Show detail on Schedule A.
the extension to this return. Attach schedule of taxes deducted on Federal Form 1120, Line
17 or Form 1120S, Line 12 or Form 1065, Line 14 or Form 1040,
Part 1 Schedule C, Line 23 for verification purposes.
Line 1 Taxpayers that are members of an affiliated group filing An accrual basis taxpayer that is a member of an affiliated group
a consolidated federal income tax return shall compute federal filing a consolidated Missouri income tax return shall allocate a
taxable income as if a separate federal tax return had been portion of the consolidated Missouri income tax liability for the
filed. A pro forma federal return or appropriate schedules should year by multiplying such liability by a fraction, the numerator of
then be attached together with a copy of pages 1 through 4 of the which is the separate Missouri taxable in come of such member,
consolidated federal income tax return. and the denominator of which is the sum of the separate Missouri
Line 2 Enter all income received on state or political subdivision taxable incomes of all members having Missouri taxable income
obligations excluded from the federal return. This income is for the year.
taxable on this return. Explain if different from tax-exempt interest A cash basis taxpayer that is a member of an affiliated group
shown on the federal return. filing a consolidated Missouri income tax return shall allocate
Line 3 Enter all income received on federal securities excluded each component of the consolidated Missouri income tax paid
from the federal return (e.g., non-taxable portion Federal Reserve (or refunded) during the year by multiplying each component
Bank dividends). This income is taxable on this return. by a fraction, the numerator of which is the separate Missouri
taxable income of such member for the applicable year, and the
Line 4 Enter the charitable contribution deduction claimed on the denominator of which is the sum of the separate Missouri taxable
federal return. incomes of all members having Missouri taxable income for the
Line 5 Enter the bad debt claimed on the federal return or any applicable year.
additions to a bad debt reserve claimed as a de duc tion on the In the computation of separate Missouri taxable income, each
federal return. (The reserve method is not a permissible method member of a group filing a consolidated Missouri income tax
on this return.) In the appropriate box, indicate the bad debt return shall start with its separate federal taxable income as
method used on the federal return. computed pursuant to the method applicable to the group under
Line 6 Enter the excess, if any, of recoveries of bad debts Treasury Regulation 1.1552-1. The amount of the federal income
previously charged off over current year charge offs. Attach tax deduction of each member under Section 143.171.1, RSMo,
schedule of bad debt computation. shall be that portion of the actual federal consolidated income tax
Line 7 Enter any Missouri Credit Institution tax deducted on the liability of the group as is required to be allocated to such member
federal return. This is not an allowable deduction on this return. under Internal Revenue Code Section 1552 without regard to any
additional allocations under Treasury Regulation 1.1502-33(d).
Line 8 Enter here and on Line 22 taxes to be claimed as credits
Line 9 Enter deductions claimed on the federal return which are
not allowable on this return and income not included on the
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