Maddy summaryHB 46 modifies licensing rules for certified public accounting (CPA) firms operating in the state. It requires firms with a physical office in the state offering financial audits or compilation services to hold a state-issued permit, while out-of-state firms can provide these services only if they meet specific qualifications, undergo peer reviews, and use a licensed individual based in the state. The bill also mandates that all CPA firms register with the secretary of state (with limited exemptions for sole proprietorships and certain partnerships), sets rules for firm ownership requiring majority licensee control, and requires peer reviews every three years. Additionally, it clarifies that firms must use accurate names reflecting their legal structure and ownership, and must report ownership changes or disciplinary actions to the board. These changes directly affect CPA firms, their owners, and licensed professionals providing accounting services in the state.
Sponsored bills
Maddy summaryHB 43 requires Missouri counties and school districts to adjust property tax rates when property valuations change, ensuring they collect roughly the same total tax revenue as before. It mandates that tax rates for different property classes (like residential or commercial) be revised to maintain revenue levels, while preventing rates from exceeding historical highs or voter-approved ceilings. School districts must also allocate railroad and utility tax revenue proportionally across property classes based on their assessed value. The bill caps annual tax rate adjustments for inflation at either the Consumer Price Index or 5%, whichever is lower.
Maddy summaryHB 464 modifies Missouri's personal property tax valuation rules by repealing and replacing sections 137.073 and 137.115 of the Revised Statutes of Missouri. The bill requires local governments (counties, cities, school districts) to adjust property tax rates whenever assessed valuations change, ensuring they collect roughly the same tax revenue as the previous year from existing property (excluding new construction). It sets limits on tax rates, prohibiting increases beyond the highest rate in effect after 1980 unless voters approve higher rates. This directly affects all local taxing authorities that levy property taxes on personal property and real estate subclasses.
Maddy summaryHB 652 changes Missouri's requirement for employers to file wage tax returns electronically. Starting January 1, 2026, employers with at least 10 employees must submit these returns electronically by January 31, replacing the previous threshold of 250 employees. The bill aligns Missouri's filing method with federal specifications used for Social Security Administration filings. Employers already granted an IRS electronic filing waiver automatically qualify for the same exemption with Missouri. This directly affects Missouri employers who withhold wage taxes, streamlining their reporting process.
Maddy summaryHB 629 modifies how local governments adjust property tax rates when assessed values change. It requires counties to notify political subdivisions (like cities, school districts, and counties) when personal property assessments or specific real property subclasses change, so they can revise tax rates to maintain the previous year’s revenue (excluding new construction). Tax rates must stay within voter-approved limits or a cap tied to inflation (capped at 5% or the Consumer Price Index). This directly affects all local governments that levy property taxes, ensuring revenue stability while limiting rate increases.
Maddy summaryThe provided bill text for HB 44 appears corrupted and contains unrelated federal code references (e.g., "50 U.S.C. Section 1701") that do not align with the stated title about income tax deductions for private pensions. The text includes garbled phrases like "shall pick up and pay the to review" which are not coherent legislative language. Without a clear, accurate description of the bill's provisions or specific policy changes, a factual summary cannot be generated. The title suggests it would affect taxpayers claiming pension deductions, but the provided text does not describe any actual modifications to tax rules or their concrete effects.
Maddy summaryHB 653 modifies Missouri's sales tax exemption rules to clarify which goods and services are exempt from taxation. The bill explicitly exempts manufacturing supplies (including telecommunications services under "manufacturing"), agricultural materials like feed and fertilizer, materials used in material recovery processing plants, and certain business equipment. It also clarifies that telecommunications services production qualifies for manufacturing exemptions and overrules a 2016 court interpretation (IBM case) regarding these exemptions. These changes primarily affect businesses selling exempt items, such as manufacturers, agricultural producers, and material recovery facilities.
Maddy summaryHB 47 updates how special road districts can use their funds. It requires that money collected for road maintenance be spent only within the city boundaries where the roads are located, and limits spending to a percentage based on each city's share of road mileage in the district. The bill also prohibits using district funds outside the county where the district is situated. This directly affects cities and special road districts managing local roads, changing their spending rules for maintenance and construction.
Maddy summaryHB 48 replaces Missouri's existing tax on bingo card sales, which previously charged $10 per box of pull-tab cards. Instead, it imposes a new tax of 2% of gross receipts on all bingo cards sold within the state, collected monthly by suppliers. This directly affects businesses that manufacture, sell, or distribute bingo equipment and supplies, requiring them to pay this updated tax. The bill does not eliminate bingo-related taxes but changes their structure, while maintaining other licensing and recordkeeping requirements for suppliers.
Maddy summaryThis bill updates Missouri's tax laws to provide credits for residents who pay income taxes to other states or the District of Columbia on income earned there. It specifically clarifies how these credits apply to individuals, estates, trusts, and owners of pass-through businesses like S corporations and partnerships. The legislation defines the calculation for these credits and includes special rules for shareholders of out-of-state banks, ensuring they can claim tax benefits based on taxes paid by the bank on their behalf.