Centerre Bank of Crane v. Director of Revenue

ROBERTSON, Judge.

This appeal presents three questions: (1) whether Missouri’s bank tax, Section 148.030, RSMo 1978, is a nondiscriminatory franchise tax which falls outside the prohibition of 31 U.S.C. sec. 3124(a) (1982) against taxing federal obligations or the interest thereon; (2) whether sales and use taxes paid by banks on purchases of tangible personal property are “taxes paid to the State of Missouri or any political subdivision thereof”, Section 148.030.3, RSMo 1978, and thus may be taken as a credit against the Missouri bank tax; and (3) whether Section 148.040.3, RSMo 1978, permits…