206.651 Definitions. Sec. 651. As used in this chapter: (a) “Billing address” means the location indicated in the books and records of the financial institution on the first day of the tax year or on a later date in the tax year when the customer relationship began as the address where any notice, statement, or […]
206.653 Franchise tax. Sec. 653. (1) Every financial institution with substantial nexus in this state is subject to a franchise tax. The franchise tax is imposed upon the tax base of the financial institution as determined under section 655 after allocation or apportionment to this state, at the rate of 0.29%. (2) For purposes of […]
206.655 Financial institution; tax base; total equity capital. Sec. 655. (1) For a financial institution, the tax base is the total equity capital of the financial institution or the top-tiered parent entity in the case of a unitary business group of financial institutions, subject to the following deductions before allocation or apportionment: (a) The average […]
206.657 Financial institution; business activities subject to tax within and outside of state; gross business factor. Sec. 657. (1) Except as otherwise provided under this chapter, the tax base of a financial institution whose business activities are confined solely to this state shall be allocated to this state. The tax base of a financial institution […]
206.659 Financial institution; gross business in state; determination. Sec. 659. Gross business in this state of the financial institution is determined as follows: (a) Receipts from credit card receivables including without limitation interest and fees or penalties in the nature of interest from credit card receivables and receipts from fees charged to credit card holders […]
