Optional Single Sales Factor Apportionment Changes
House Bill 128 was passed by the General Assembly in the 2013 Regular Session, and it was signed into law by Governor Nixon on July 12, 2013. House Bill 128 provides that an eligible corporation may elect to use the optional single sales factor apportionment method to compute its Missouri corporate taxable income from sources in this state on its original income tax return. The election to use this apportionment method is available for any original income tax return that is filed on or after August 28, 2013, regardless of the taxable year for which the original income tax return is being filed as authorized by Section 143.451.2(3), RSMo.
This election is not available for any corporate income tax return that was filed on or before August 27, 2013. It is also not available for amended returns filed after the due date or extended due date of the return.
For original returns filed on or after August 28, 2013 and before August 28, 2015, Method 2A only applies to taxpayers selling tangible property. Senate Bill 19, passed by the General Assembly in the 2015 Regular Session and signed into law by Governor Nixon on May 6, 2015, provides that Method 2A is also available to taxpayers with sales other than tangible property for returns filed on or after August 28, 2015 that meet all other requirements.