143.271. Period for computation of taxable income.
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/mo/chapter-143/143-271A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
143.271. Period for computation of taxable income. — 1. For purposes of taxes imposed by sections 143.011 to 143.996 , a taxpayer's taxable year shall be the same as his taxable year for federal income tax purposes.
2. If a taxpayer's taxable year is changed for federal income tax purposes, his taxable year for purposes of the tax imposed by sections 143.011 to 143.996 shall be similarly changed. If a change in taxable year results in a taxable period of less than twelve months, the deductions allowed by sections 143.011 to 143.996 shall be prorated under regulations prescribed by the director of revenue.
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(L. 1972 S.B. 549)
Effective 1-1-73, see § 143.109