Missouri § 135.357 - Capital gain exclusion, when.
Full text of Missouri Revised Statutes of Missouri § 135.357 — Capital gain exclusion, when., with citation guidance and answers to common questions.
§ 135.357. Capital gain exclusion, when.
A taxpayer shall be allowed to exclude from taxation under chapter 143 a portion of the capital gain, as calculated under the Internal Revenue Code of 1986, as amended, that results from the sale of a low-income project subsidized by the federal Department of Housing and Urban Development to a nonprofit or governmental organization, agreeing to preserve or increase the low-income occupancy of the project. For those owners whose low-income project has at least forty percent of its units occupied by persons or families having incomes of sixty percent or less of the median income, the exclusion shall equal twenty-five percent of the capital gain.
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(L. 1990 H.B. 960 § 3 subsec. 3)
Effective 10-01-90
---- end of effective 01 Oct 1990 ----
Frequently Asked Questions About Missouri § 135.357
What does Revised Statutes of Missouri § 135.357 cover?
Section 135.357 ("Capital gain exclusion, when.") is part of the Revised Statutes of Missouri, the codified statutory law of Missouri. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Missouri § 135.357?
A common citation format is "Revised Statutes of Missouri § 135.357" (Missouri). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Missouri law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Missouri official source linked on this page or consult a licensed Missouri attorney.
How does Missouri § 135.357 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Missouri can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Missouri.