Missouri Business Form Help
The following information has been provided to assist in the preparation of Missouri Business returns.
Form MO-1065, Partnership Return of Income, must be filed if federal Form 1065 is required to be filed and that partnership has a partner that is a Missouri resident or any income derived from Missouri sources, Section 143.581, RSMo.
Form MO-1120, Corporation Income Tax Return
Box A should be checked when there is zero franchise tax liability. Box A will be checked automatically if the corporation assets or apportioned assets do not exceed $10,000,000 and box C is not checked.
Box B should be checked when the return is being filed for both income tax and franchise tax. Box B will be checked automatically unless box C or box D is checked.
Box C should be checked if the return is being filed for income tax only. Checking this box will clear box A and/or box B and will remove Form MO-FT, if present.
Box D should be checked if the return is being filed for franchise tax only. Checking this box will clear box B, add Form MO-FT if it is not currently present, and will remove all income tax calculations from Form MO-1120.
Form MO-1120S, S Corporation Income Tax Return
Box A should be checked when there is zero franchise tax liability. Box A will be checked automatically if the corporation assets or apportioned assets do not exceed $10,000,000 and box C is not checked.
Box B should be checked when the return is being filed for both income tax and franchise tax. Box B will be checked automatically unless box C or box D is checked.
Box C should be checked if the return is being filed for income tax only. Checking this box will clear box A and/or box B and will remove Form MO-FT, if present.
Box D should be checked if the return is being filed for franchise tax only. Checking this box will clear box B, add Form MO-FT if it is not currently present, and will remove all income tax calculations from Form MO-1120S.
Form MO-C, Missouri Dividend Deduction Schedule, will be added to the return when there are dividends and special deductions present on the federal return and the single factor apportionment or optional single sales factor apportionment method is used on Form MO-MS.
Form MO-FT, Corporate Franchise Tax Schedule
If the corporation has assets both within and without Missouri, complete the allocation per attached balance sheet or schedule by entering the amount of Missouri assets in the Missouri column. When amounts are entered in the Missouri column, the Everywhere column will calculate.
Form MO-K1, Missouri Partner’s Adjustment Worksheet, will be added for each partner.
The nonresident check box will check automatically if the state in the partner’s address is not “MO”. If the nonresident box is checked, then Form MO-NRP, Nonresident Partnership Form, will automatically be added for that partner.
If the partner is exempt from withholding, check the appropriate box. Checking this box will add a withholding tax exemption, Form MO-3NR, for that partner.
An additional box is also provided for partners that have a previous withholding tax exemption on file or are exempt from filing Form MO-2NR for any other reason. Checking this box will remove any completed Form MO-2NR that is not required.
If the partner is revoking a previous withholding tax exemption, check the appropriate box and enter the date of revocation. Checking this box will add a withholding tax exemption revocation, Form MO-3NR, for that partner.
If the partner will be included on a composite return, check the appropriate box. Checking this box will remove any completed Form MO-2NR for that partner.
Form MO-K1, Missouri Shareholder’s Adjustment Worksheet, will be added for each shareholder.
The nonresident check box will check automatically if the state in the shareholder’s address is not “MO”. If the nonresident box is checked, then Form MO-NRS, S Corporation Nonresident Schedule, will automatically be added for that shareholder.
If the shareholder is exempt from withholding, check the appropriate box. Checking this box will add a withholding tax exemption, Form MO-3NR, for that shareholder.
An additional box is also provided for shareholders that have a previous withholding tax exemption on file or are exempt from filing Form MO-2NR for any other reason. Checking this box will remove any completed Form MO-2NR that is not required.
If the shareholder is revoking a previous withholding tax exemption, check the appropriate box and enter the date of revocation. Checking this box will add a withholding tax exemption revocation, Form MO-3NR, for that shareholder.
If the shareholder will be included on a composite return, check the appropriate box. Checking this box will remove any completed Form MO-2NR for that shareholder.
Form MO-MS, Corporation Allocation and Apportionment of Income Schedule
Select the appropriate method. If using Method Three, Method Four, Method Five, or Method Seven, then use the percentage at the end of this section to enter the appropriate apportionment percentage and the worksheet provided to attach a detailed explanation.
Form MO-MSS, S Corporation Allocation and Apportionment Schedule
Select the appropriate method. If using Method Three, Method Four, Method Five, or Method Seven, then use the percentage at the end of this section to enter the appropriate apportionment percentage and the worksheet provided to attach a detailed explanation.
Form MO-NBI, Nonbusiness Income Schedule
If using the Three Factor Apportionment Method, then use the box provided to identify the nonbusiness income as a nonbusiness dividend. This will be used in calculating the Missouri Dividends Deduction on Form MO-1120.
Form MO-NRP, Nonresident Partnership Form, will be added for each partner that is identified as a nonresident on their corresponding MO-K1 Worksheet.
Federal Schedule K amounts in column (a) are pulled directly from the partnership’s federal Form 1065, Schedule K.
Missouri source amounts in column (b) and the Missouri percentage in column (c) are pulled directly from columns (b) and (c) of the Missouri Percentage for MO-NRP worksheet attached to Form MO-1065. There are three options in completing this worksheet. First, the Missouri source column can be entered manually and the Missouri percentage will calculate automatically. Second, Part 3 of the worksheet can be completed to calculate the Missouri percentage. Third, Form MO-MSS can be completed to calculate the Missouri percentage. When using the second or third option, column (b) will automatically be calculated as the federal Schedule K amount in column (a) times the Missouri percentage in column (c).
Federal Schedule K-1 amounts in column (d) are pulled directly from each nonresident partner’s federal Form 1065, Schedule K-1.
Missouri source amounts in column (e) are calculated by multiplying the Missouri percentage in column (c) by the federal Schedule K-1 amount in column (d).
Missouri partnership adjustment amounts in column (a) are pulled directly from the Missouri partnership adjustments listed on Form MO-1065.
Missouri source amounts in column (b) and the Missouri percentage in column (c) are pulled directly from columns (b) and (c) of the Missouri Percentage for MO-NRP worksheet attached to Form MO-1065. There are three options in completing this worksheet. First, the Missouri source column can be entered manually and the Missouri percentage will calculate automatically. Second, Part 3 of the worksheet can be completed to calculate the Missouri percentage. Third, Form MO-MSS can be completed to calculate the Missouri percentage. When using the second or third option, column (b) will automatically be calculated as the Missouri partnership adjustment amount in column (a) times the Missouri percentage in column (c).
The partner’s partnership adjustment in column (d) is each nonresident partner’s share of the Missouri partnership adjustment.
The Missouri source amount in column (d) is each nonresident partner’s share of the Missouri source amount in column (b).
All amounts are pulled directly from the Missouri Percentage for MO-NRP worksheet attached to Form MO-1065. Total federal return amounts in column (a) of the worksheet are pulled directly from federal Form 1065. Missouri source amounts in column (b) should be entered manually on the worksheet.
Form MO-NRS, S Corporation Schedule, will be added for each shareholder that is identified as a nonresident on their corresponding MO-K1 Worksheet.
Federal Schedule K amounts in column (a) are pulled directly from the S corporation’s federal Form 1120S, Schedule K.
Missouri source amounts in column (b) will automatically be calculated as the federal Schedule K amount in column (a) times the Missouri percentage in column (c).
The Missouri percentages in column (c) are pulled directly from Form MO-MSS. If Form MO-MSS is not used, then the Missouri percentage will calculate as 100.000%.
Federal Schedule K-1 amounts in column (d) are pulled directly from each nonresident shareholder’s federal Form 1120S, Schedule K-1.
Missouri source amounts in column (e) are calculated by multiplying the Missouri percentage in column (c) by the federal Schedule K-1 amount in column (d).
Missouri S corporation adjustment amounts in column (a) are pulled directly from the Missouri S corporation adjustments listed on Form MO-1120S.
Missouri source amounts in column (b) will automatically be calculated as the Missouri S corporation adjustment amount in column (a) times the Missouri percentage in column (c).
The Missouri percentages in column (c) are pulled directly from Form MO-MSS. If Form MO-MSS is not used, then the Missouri percentage will calculate as 100.000%.
The shareholder’s S corporation adjustment in column (d) is each nonresident shareholder’s share of the Missouri S corporation adjustment.
The Missouri source amount in column (d) is each nonresident shareholder’s share of the Missouri source amount in column (b).
Form MO-TC, Miscellaneous Income Tax Credits, is used to claim credits against income tax and franchise tax. Use column 1 for income tax credits and column 2 for franchise tax credits. If the tax credit is refundable, check the appropriate box.
Form MO-1NR, Income Tax Payments for Nonresident Individual Partners or S Corporation Shareholders, will be added for each partnership or S corporation that has partners or shareholders filing Form MO-2NR.
Form MO-2NR, Statement of Income Tax Payments for Nonresident Individual Partners or S Corporation Shareholders, will be added for each individual partner or shareholder that is identified as being a nonresident and not exempt from withholding or included on a composite return on their corresponding MO-K1 Worksheet.
Form MO-3NR, Partnership or S Corporation Withholding Exemption or Revocation Agreement, will be added for each individual partner or shareholder that is identified as being exempt from withholding or revoking a previous withholding election on their corresponding MO-K1 Worksheet.
Form MO-1120ES, Missouri Estimated Corporate Income Tax Worksheet
If your corporation is subject to income tax under Chapter 143, RSMo (including those with unrelated business taxable income and excluding qualified S corporations), your corporation is required to make estimated tax payments for the taxable year if your Missouri estimated tax can reasonably be expected to be at least $250 (Section 143.521.2, RSMo). Do not use Form MO-1120ES for S corporation shareholder composite returns. Estimated tax payments may be applied to unpaid corporation taxes and franchise taxes.
Form MO-2220, Corporation Underpayment of Estimated Tax Schedule, is used by a corporation to determine whether it is subject to addition to tax for underpayment of estimated tax, and if so, the amount of addition to tax. Estimated tax is a corporation’s expected income tax liability. For further information regarding, underpayment of estimated tax, see 12 CSR 10-2.067. Estimated tax payments are required if Missouri estimated tax can reasonably be expected to be $250 or more.
Form 2827, Power of Attorney
Missouri grants an automatic extension of time to file to any individual, partnership, or fiduciary if you filed a federal extension. You do not need to file a Form MO-60, Application for Extension of Time to File, unless:
You expect to owe a tax liability for the period. Form MO-60 and payment are due on or before the due date of the return.
You want a Missouri extension but not a federal extension. See “Note” below for exception on individual income tax returns only. Form MO-60 is due on or before the due date of the return. A copy of Form MO-60 must be enclosed with the Missouri return when filed. An approved Form MO-60 extends the due date up to six months for the individual income tax returns, and five months for fiduciary, and partnership income tax returns.
You seek a Missouri extension exceeding the federal automatic extension period. Form MO-60 must be filed on or before the end of the federal automatic extension period.
Missouri grants an automatic extension of time to file corporation income and corporation franchise tax to any corporation that has a federal extension. Form MO-7004, Application for Extension of Time to File, and payment are due on or before the due date of the return. An approved Form MO-7004 extends the due date up to 180 days. You do not need to file Form MO-7004 unless you expect to owe a tax liability for the period, you want a Missouri extension but not a federal extension, or you seek a Missouri extension exceeding the federal automatic extension period.
The Missouri E-file Worksheet is used to initiate electronic filing of the tax return and to schedule a direct deposit of the refund or electronic funds withdrawal of the balance due, if desired. This is not a state form, and there is no retention requirement for this worksheet.