FIRST REGULAR SESSION
SENATE BILL NO. 370
103RD GENERAL ASSEMBLY
INTRODUCED BY SENATOR MOON.
1151S.01I KRISTINA MARTIN, Secretary
AN ACT
To repeal section 143.071, RSMo, and to enact in lieu thereof one new section relating to corporate
income taxes.
Be it enacted by the General Assembly of the State of Missouri, as follows:
Section A. Section 143.071, RSMo, is repealed and one new 1
section enacted in lieu thereof, to be known as section 143.071, 2
to read as follows:3
143.071. 1. For all tax years beginning before 1
September 1, 1993, a tax is hereby imposed upon the Missouri 2
taxable income of corporations in an amount equal to five 3
percent of Missouri taxable income. 4
2. For all tax years beginning on or after September 5
1, 1993, and ending on or before December 31, 2019, a tax is 6
hereby imposed upon the Missouri taxable income of 7
corporations in an amount equal to s ix and one-fourth 8
percent of Missouri taxable income. 9
3. (1) For all tax years beginning on or after 10
January 1, 2020, a tax is hereby imposed upon the Missouri 11
taxable income of corporations in an amount equal to four 12
percent of Missouri taxable income. 13
(2) Beginning with the tax year beginning on or after 14
January 1, 2026, the tax imposed upon the Missouri taxable 15
income of corporations pursuant to subdivision (1) of this 16
subsection shall be reduced over a period of years. Each 17
reduction shall be by eight -tenths of a percent and no more 18 SB 370 2
than one reduction shall be made in a calendar year. A 19
reduction of tax rates under this subdivision shall only 20
apply to tax years that begin on or after the date the 21
reduction takes effect. For all tax years beginning on or 22
after January 1, 2030, there shall be no tax imposed upon 23
the Missouri taxable income of corporations. 24
4. The provisions of this section shall not apply to 25
out-of-state businesses operating under sections 190.270 to 26
190.285. 27