![]() This is a typo and it should state that it is applicable for tax years ending on or after December 31, 2022. Please note that the House bill summary released by the state indicated that the SALT Parity Act is applicable for tax years beginning on or after January 1, 2023. Visit the Missouri House website for a summary of the passed bill that will be effective August 28, 2022. ![]() ![]() The bill also contained an extension of the headquarters tax credit, some changes to the Tax Credit Accountability Act, the reinstatement of the hotel/motel utilities sales tax exemption (with a refund provision for taxes paid prior to the effective date of August 28, 2022), language regarding suspension of Missouri Works during the COVID-19 pandemic, changes to the Missouri One Start program, and more. Mike Parson signed House Bill (HB) 2400, which contains the revival of the research and development (R&D) tax credit (2023) and the state and local tax (SALT) provisions that allow partners and shareholders in flow-through entities to enjoy the full deduction of SALT on their federal return without a negative impact on their Missouri returns (2022).
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