Missouri § 354.315 - Data processing system authorized, cost, amount allowed — amortization not to exceed ten years.
Full text of Missouri Revised Statutes of Missouri § 354.315 — Data processing system authorized, cost, amount allowed — amortization not to exceed ten years., with citation guidance and answers to common questions.
§ 354.315. Data processing system authorized, cost, amount allowed — amortization not to exceed ten years.
Notwithstanding any prohibitions or restrictions contained in the statutes, any corporation subject to the provisions of sections 354.010 to 354.380 may acquire by purchase electronic or mechanical machines constituting a data processing system, and thereafter may hold the system as an admitted asset for use in connection with the business of the company if
(1) The system shall have an aggregate cost of not less than twenty-five thousand dollars and its aggregate cost shall not exceed five percent of the admitted assets of the company;
(2) The cost of the component machines constituting the system shall be fully amortized over a period not to exceed ten calendar years. If a data processing system consists of separate component machines which are acquired at different times, then the cost of each component shall be fully amortized over a period not to exceed ten calendar years commencing with the date of acquisition of each component.
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(L. 1983 H.B. 127)
---- end of effective 28 Aug 1983 ----
Frequently Asked Questions About Missouri § 354.315
What does Revised Statutes of Missouri § 354.315 cover?
Section 354.315 ("Data processing system authorized, cost, amount allowed — amortization not to exceed ten years.") 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 § 354.315?
A common citation format is "Revised Statutes of Missouri § 354.315" (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 § 354.315 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.