Section 135.329 Credit not allowed, when.

MO Rev Stat § 135.329 (2019) (N/A)

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Effective 01 Jan 1996, see footnote

135.329. Credit not allowed, when. — No credit shall be allowable for that portion of the nonrecurring adoption expenses for which a credit is allowable and taken under any similar provision of federal, state, or local law. Credit may be taken up to the amount allowable under section 135.327 for that portion of the nonrecurring adoption expenses which exceed the credit taken under such other provision of federal, state or local law. If there is a deduction allowable and taken under any other provision of federal, state or local law which is similar to the credit allowable under section 135.327, the credit allowable for nonrecurring adoption expenses shall be reduced by the amount of the decrease in the tax liability resulting from taking such deduction. No credit shall be allowable for that portion of the nonrecurring adoption expenses paid from any funds received under any federal, state, or local program.

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(L. 1987 S.B. 402 § 4, A.L. 1995 H.B. 414)

Effective 1-01-96

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Section 135.327 Special needs child adoption tax credit — nonrecurring adoption expenses, amount — individual and business entities tax credit, amount, time for filing application — assignment of tax credit, when.

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Section 135.331 Adopted child eighteen years of age or older, credit not allowed — exception.