148.655 Tax credit allowed for S corporation shareholders of associations, amount.

148.655. Tax credit allowed for S corporation shareholders of associations, amount. — Subchapter S corporation shareholders of an association required to pay franchise taxes under section 148.620 may take a tax credit against such shareholder's state income tax return, as provided in section 143.471 . Such tax credit shall be the taxpayer's pro rata share of the franchise tax paid by the association as provided in this chapter. (L. 2006 S.B. 892)