Missouri § 148.031 - Substitute bank franchise tax.
Full text of Missouri Revised Statutes of Missouri § 148.031 — Substitute bank franchise tax., with citation guidance and answers to common questions.
§ 148.031. Substitute bank franchise tax.
A corporation that makes an election under 26 U.S.C. Section 1362, that is also a banking institution as defined in section 148.020, shall pay the annual franchise tax as set forth in section 148.030, as modified by this section, and which is substantially equal to the franchise tax which a corporation that has not made such election that is also a banking institution pays, as follows:
(1) For the purposes of calculating the tax due pursuant to section 148.030, such electing corporation shall first determine all taxes due treating the electing corporation as a nonelecting corporation, both for federal and state tax purposes, including sections 148.010 to 148.110 and excluding section 143.471;
(2) The resulting franchise tax due under this calculation is the substitute franchise tax, and shall be paid as the corporation's bank franchise tax.
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(L. 1998 S.B. 792 § 1)
---- end of effective 28 Aug 1998 ----
Source: official Missouri text · Last verified 2026-08-27
Frequently Asked Questions About Missouri § 148.031
What does Revised Statutes of Missouri § 148.031 cover?
Section 148.031 ("Substitute bank franchise tax.") 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 § 148.031?
A common citation format is "Revised Statutes of Missouri § 148.031" (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 § 148.031 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.