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Tax & Incentive Profile
Corporate Franchise Taxes
The state of Kansas has no corporate franchise tax.
The Missouri franchise tax rate is 1/37 of 1% (.00027027). The franchise tax is based on the value of total assets or the par value of issued and outstanding capital stock, whichever is greater. Capital stock without a par value is valued at $5 per share or at its actual value, whichever is greater. Corporations with $1,000,000 or less of assets wholly in Missouri or apportioned to Missouri are not taxed. However, all corporations incorporated, qualified, or engaged in business in Missouri are required to file a franchise tax return. Not-for-profit corporations and express and insurance companies paying an annual tax on gross receipts or premium receipts in Missouri are examples of corporations exempt from filing and paying franchise tax. Multi-state corporations may apportion their assets based on a three factor method of accounts receivables, inventories, and land & fixed assets.
The franchise tax due may be offset by applying applicable tax credits.
The return for Missouri's franchise tax is filed with the Department of Revenue.
DEFINING THE GREATER KC METRO AREA
Kansas City is a Missouri/Kansas bi-state metropolitan area. All statistical references made to Kansas City Metropolitan Statistical Area (MSA) include the counties of Cass, Clay, Clinton, Jackson, Lafayette, Platte and Ray in Missouri, and Johnson, Leavenworth, Miami and Wyandotte counties in Kansas. The greater Kansas City area also includes the adjoining Lawrence, KS, St. Joseph, MO, and Topeka, KS MSAs, as well as the Atchison, KS, Chillicothe, MO, Ottawa, KS, and Warrensburg, MO areas.