MO HB321

Amends Section 143.451, RSMo to add a new elective method for corporations to compute the portion of income from Missouri sources using a single sales factor based on purchaser's destination point

For sales of services, income is allocated to Missouri if the "ultimate beneficiary" of the service is located in the state; for intangible property, allocation depends on where the property is used

Creates detailed market-based sourcing rules for real property, tangible personal property rentals, services, and intangible property including franchise fees and royalties

Defines "investment funds service corporation" as entities deriving more than 50% of gross income from management, distribution, or administration services to investment companies, with special apportionment rules based on fund shareholder residence

Authorizes the director to prescribe rules and regulations to implement the new allocation provisions; clarifies the new method does not affect other apportionment elections available under Missouri statutes