MO SB19

Amends section 143.451, RSMo to add a market-based sourcing method for allocating corporate income from sales of services and intangible property to Missouri for tax purposes

Sales of services are sourced to Missouri if the ultimate beneficiary of the service is located in the state; sales where the beneficiary is outside Missouri are not counted as in-state sales

Intangible property income (rentals, leases, licenses) is sourced based on where the property is used, with franchise fees allocated based on franchise location

Receipts from intangible property sales contingent on productivity or use are treated as licensing income; other intangible property sale receipts are excluded from the sales factor calculation

Director of Revenue is authorized to prescribe rules and regulations to implement the market-based sourcing provisions; existing apportionment election methods remain available to taxpayers