Missouri DOR Proposes Amending Income Tax Regulation Concerning Pass-Through Entities’ Returns, Composite Return Filing Requirements

The Missouri Department of Revenue March 1 proposed a regulation on annual return filing requirements, composite returns, and nonresident partner and shareholder income tax withholding for individual income tax purposes. The proposal includes measures to: 1) add express definitions of partnership and S corporation; 2) clarify the circumstances under which a composite tax return for nonresident partners or nonresident S corporation shareholders may be filed and the general contents of the return as well as the withholding requirements for nonresident partners and shareholders and the related withholding exemption; 3) clarify the annual partnership and S corporation return filing requirement; and ...