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General Instructions - 2023 Bank Franchise Tax Return
Section 148.010 – 148.112, RSMo
This information is for guidance only and does not state the complete law.
The 2023 Bank Franchise Tax Return (Form INT-2) form must be completed This return must be filed by every bank and every trust company orga-
and filed by April 15, 2024. The original due date is considered April 15 of the nized under any general or special law of this state and every national
taxable year, unless April 15 falls on a Saturday, Sunday, or legal holiday in banking association located in this state and any branch or office physi-cally
this state. An extension of time to file this return can be requested through located in this state of any commercial bank or trust company.
the Application for Extension of Time to File (Form 7004). An extension The Financial Institution Tax Schedule B (Form 2331) must be completed
of time to file the return does not extend the time for payment of the tax. and submitted with each Form INT-2. You may refer to Regulation 12 CSR
An extension of time may not exceed 180 days from the original due 10-10.020. If any bank operates more than one office or branch in Missouri,
date pursuant to Regulation 12 CSR 10-10.110. Note: Any payment the bank shall file one return giving the address of each office or branch
submitted after the original due date is subject to interest at the rate with the total dollar amounts of accounts or deposits of each office on Form
determined by Section 32.065, RSMo which can be obtained from the 2331. If there are more than 30 locations, please email a list of the locations
Department’s website at dor.mo.gov/taxation/statutory-interest-rates. in a spread sheet, along with this return, to the Department at the e-mail
html. shown at the bot-tom of the return.
If any return is not filed by the due date, a penalty of 5% per month, not All returns are filed based upon a calendar year business activity basis.
to exceed 25%, is calculated on the amount due.
Instructions
Amended Return: Select the box at the top of the form if filing an held for lease or rental to others. Show detail on Page 2, Schedule A. All
amended return. state and local sales and use taxes paid by banks as purchasers to sell-
ers, vendors, or the State of Missouri on purchases of tangible personal
Federal Extension: Select the box at the top of the form indicating you property and services enumerated in Chapter 144, RSMo, may be claimed
have an approved federal extension. Attach a copy of the extension with as a credit. Capitalized sales and use taxes paid by banks as purchasers
this return. are creditable. Documentation to support the capitalized sales and use tax
Part 1 credit must be available upon request.
Line 1 Enter the amount of taxable income or loss from Federal Form Certain criteria must be met in order for a tax credit to be allowable
1120, Line 28, before any net operating loss deduction or special deduc- pursuant to Regulation 12 CSR 10-10.150, Tax Credits on Bank Tax
tion is applied, or Federal Form 1120S, Line 21. Return, as follows:
Taxpayers that are members of an affiliated group filing a consolidated (1) The following criteria shall be used to establish whether or not a
federal income tax return shall compute federal taxable income as if a tax credit may be claimed against the Bank Franchise Tax,
separate federal tax return had been filed by each member of the affili- imposed by Sections 148.010 to 148.110, RSMo, computed
ated group. A pro forma federal return or appropriate schedules should pursuant to Section 148.030.3, RSMo:
then be attached together with a copy of pages 1 through 4 of the con- (A) The payment must have been made to the state of Missouri or
solidated federal income tax return. a political subdivision located in the state of Missouri.
Line 2 Enter all income received on state or political subdivision obli- (B) Payment must have resulted from a tax liability imposed by
gations excluded from the federal return. This income is taxable on this a government agency, as defined in subsection (1)(A), and
return. Explain if different from tax-exempt interest shown on the federal cannot be a regulatory fee collected solely for the purpose of
return. paying the cost of administering the taxing jurisdiction’s laws.
Line 3 Enter all income received on federal securities excluded from (C) The following should be used as a general guideline to
the federal return (e.g., non-taxable portion Federal Reserve Bank divi- de termine if an exaction, required by subsection (1)(A), is an
dends). This income is taxable on this return. allowable tax credit or a non-creditable fee:
Line 4 Enter the charitable contribution claimed on the federal return. 1. If the proceeds, paid as defined in subsection (1)(A), are
Line 5 Enter the bad debt claimed on the federal return or any addi- collected for deposit into the general revenue account of the
tions to a bad debt reserve claimed as a deduction on federal return. taxing jurisdiction, to raise revenue for said entity, then it is a
(The reserve method is not a permissible method on this return.) In tax and is an allowable tax credit.
the appropriate box, indicate the bad debt method used on the federal 2. If the proceeds, paid as defined in subsection (1)(A), are
return. collected primarily to cover the costs of the regulation of an
Line 6 Enter the excess, if any, of recoveries of bad debts previously activity, and which are then deposited with the regulatory
charged off over current year charge offs. Attach schedule of bad debt agency, then it is a non-cre dit able fee.
computation. (2) At all times the burden of establishing whether an exaction is an
Line 7 Enter any Missouri Bank Franchise Tax deducted on the federal allowable tax credit or a non-creditable fee shall be on the taxpayer.
return. This is not an allowable deduction on this return. An accrual basis taxpayer that is a member of an affiliated group filing
Note: Cash basis banks should add the Missouri Bank Franchise Tax a consolidated Missouri income tax return shall allocate a portion of the
paid in the preceding calendar year. Accrual basis banks should add the consolidated Missouri income tax liability for the year by multiplying such
Missouri Bank Franchise Tax accrued during the previous calendar year. liability by a fraction, the numerator of which is the separate Missouri tax-
Line 8 Enter here and on Line 19 any taxes claimed as credits on this able income of such member, and the denominator of which is the sum
return. All taxes paid to the State of Missouri or any political subdivi-sion of the separate Missouri taxable incomes of all members having Missouri
thereof are eligible except taxes on real estate, unemployment taxes, bank taxable income for the applicable year.
tax, and taxes on tangible personal property owned by the taxpayer and A cash basis taxpayer that is a member of an affiliated group filing a
Form INT-2 (Revised 12-2023)
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