(1) Labor, agricultural or horticultural organizations;
(2) Mutual savings bank not having a capital stock represented byshares;
(3) Fraternal-beneficiary society, order or association, operating underthe lodge system or for the exclusive benefit of the members of a fraternityitself operating under the lodge system, and providing for the payment oflife, sick, accident or other benefits to the members of such society, order,or association or their dependents;
(4) Domestic building and loan associations and credit unions withoutcapital stock organized and operated for mutual purposes and without profit;
(5) Cemetery company owned and operated exclusively for the benefit ofits members, unless said cemetery is operated for profit;
(6) Corporation or association organized and operated exclusively forreligious, charitable, scientific or educational purposes, no part of the netincome of which inures to the benefit of any private stockholder orindividual;
(7) Business league, chamber of commerce or board of trade not organizedfor profit and no part of the net income of which inures to the benefit of anyprivate stockholder or individual;
(8) Civic league or organization not organized for profit but operatedexclusively for the promotion of social welfare;
(9) Club organized and operated exclusively for pleasure, recreation andother nonprofitable purposes, no part of the net income of which inures to thebenefit of any private stockholder or member;
(10) Farmers or other mutual hail, cyclone or fire insurance company,mutual ditch or irrigation company, mutual or cooperative telephone company,or like organization, the income of which consists solely of assessments, duesand fees collected from members for the sole purpose of meeting its expenses;
(11) Farmers, fruit growers or like association, organized and operatedas a sales agent for the purpose of marketing the products of its members andturning back to them the proceeds of sales, less the necessary sellingexpenses, on the basis of the quantity of produce furnished by them;
(12) Corporation or association organized for the exclusive purpose ofholding title to property, collecting income therefrom, and turning over theentire amount thereof, less expenses, to an organization which itself isexempt from the tax imposed by chapter 143, RSMo;
(13) Federal land banks and national farm loan associations, as providedin section 26 of an act of congress approved July 17, 1916, entitled "An actto provide capital for agricultural development, to create standard forms ofinvestment based upon farm mortgage, to equalize rates of interest upon farmloans, to furnish a market for United States bonds, to create governmentdepositaries and financial agents for the United States, and for otherpurposes";
(14) Joint stock land banks as to income derived from bonds ordebentures or other joint stock land banks or any federal land bank belongingto such joint stock land bank;
(15) Express companies which now pay an annual tax on their grossreceipts in this state and insurance companies which pay an annual tax ontheir gross premium receipts in this state;
(16) Trusts created by an employer and employees as part of a stockbonus, pension or profit-sharing plan, for the exclusive benefit of employees,to which contributions are made by such employer or employees, or both, forthe purpose of distributing to such employees the earnings and principal ofthe fund accumulated by the trust in accordance with such plan, or a trustconsisting solely of one or more restricted retirement funds created for oneor more self-employed persons as part of a retirement plan for the exclusivebenefit of such self-employed person or persons, to which contributions aremade by such self-employed person or persons, for the purpose of distributingto such self-employed person or persons the earnings and principal of the fundaccumulated by the trust in accordance with such plan and the amount actuallydistributed, or made available to any distributee;
shall not be taxable under any tax ordinance enacted pursuant to theprovisions of sections 92.110 to 92.200.
2. The following income shall be exempt, regardless of who receives it,from such tax:
(1) The proceeds of life insurance policies paid to the individualbeneficiaries upon the death of the insured;
(2) The amount received by the insured as a return of premium orpremiums paid by him under life insurance or endowment contracts, eitherduring the term or at the maturity of the term mentioned in the contract orupon the surrender of the contract;
(3) Any amount received under workers' compensation acts, ascompensation for personal injuries or sickness, plus the amount of any damagesreceived whether by suit or agreement on account of such injuries or sickness,or through the war risk insurance act or any law for the benefit or relief ofinjured or disabled members of the military or naval forces of the UnitedStates;
(4) The value of property acquired by gift, bequest, devise or descent,but the income from such property shall be included as income;
(5) Interest upon the obligations of this state or of any politicalsubdivision thereof, or upon the obligations of the United States or itspossessions;
(6) Any income derived from any public utility performing functions ofnational government or those incident to the state or any politicalsubdivision thereof, or from the exercise of any essential government functionaccruing to any state, territory or the District of Columbia; provided, thatwhenever any state, territory or the District of Columbia, or any politicalsubdivision of a state or territory has, prior to the passage of chapter 143,RSMo, entered in good faith into a contract with any person or corporation theobject and purpose of which is to acquire, construct, operate or maintain apublic utility, no tax shall be levied under the provisions of chapter 143,RSMo, upon the income derived from the operation of such public utility, sofar as the payment thereof will impose a loss or burden upon such state,territory or the District of Columbia, or a political subdivision of thisstate; but this provision is not intended to confer upon such person orcorporation any financial gain or exemption or to relieve such person orcorporation from the payment of a tax as provided for in chapter 143, RSMo,upon the part or portion of said income to which such person or corporationshall be entitled under such contract.
(Reenacted L. 1953 2d Ex. Sess. p. 14 § 6, A.L. 1973 S.B. 25)
(1) Labor, agricultural or horticultural organizations;
(2) Mutual savings bank not having a capital stock represented byshares;
(3) Fraternal-beneficiary society, order or association, operating underthe lodge system or for the exclusive benefit of the members of a fraternityitself operating under the lodge system, and providing for the payment oflife, sick, accident or other benefits to the members of such society, order,or association or their dependents;
(4) Domestic building and loan associations and credit unions withoutcapital stock organized and operated for mutual purposes and without profit;
(5) Cemetery company owned and operated exclusively for the benefit ofits members, unless said cemetery is operated for profit;
(6) Corporation or association organized and operated exclusively forreligious, charitable, scientific or educational purposes, no part of the netincome of which inures to the benefit of any private stockholder orindividual;
(7) Business league, chamber of commerce or board of trade not organizedfor profit and no part of the net income of which inures to the benefit of anyprivate stockholder or individual;
(8) Civic league or organization not organized for profit but operatedexclusively for the promotion of social welfare;
(9) Club organized and operated exclusively for pleasure, recreation andother nonprofitable purposes, no part of the net income of which inures to thebenefit of any private stockholder or member;
(10) Farmers or other mutual hail, cyclone or fire insurance company,mutual ditch or irrigation company, mutual or cooperative telephone company,or like organization, the income of which consists solely of assessments, duesand fees collected from members for the sole purpose of meeting its expenses;
(11) Farmers, fruit growers or like association, organized and operatedas a sales agent for the purpose of marketing the products of its members andturning back to them the proceeds of sales, less the necessary sellingexpenses, on the basis of the quantity of produce furnished by them;
(12) Corporation or association organized for the exclusive purpose ofholding title to property, collecting income therefrom, and turning over theentire amount thereof, less expenses, to an organization which itself isexempt from the tax imposed by chapter 143, RSMo;
(13) Federal land banks and national farm loan associations, as providedin section 26 of an act of congress approved July 17, 1916, entitled "An actto provide capital for agricultural development, to create standard forms ofinvestment based upon farm mortgage, to equalize rates of interest upon farmloans, to furnish a market for United States bonds, to create governmentdepositaries and financial agents for the United States, and for otherpurposes";
(14) Joint stock land banks as to income derived from bonds ordebentures or other joint stock land banks or any federal land bank belongingto such joint stock land bank;
(15) Express companies which now pay an annual tax on their grossreceipts in this state and insurance companies which pay an annual tax ontheir gross premium receipts in this state;
(16) Trusts created by an employer and employees as part of a stockbonus, pension or profit-sharing plan, for the exclusive benefit of employees,to which contributions are made by such employer or employees, or both, forthe purpose of distributing to such employees the earnings and principal ofthe fund accumulated by the trust in accordance with such plan, or a trustconsisting solely of one or more restricted retirement funds created for oneor more self-employed persons as part of a retirement plan for the exclusivebenefit of such self-employed person or persons, to which contributions aremade by such self-employed person or persons, for the purpose of distributingto such self-employed person or persons the earnings and principal of the fundaccumulated by the trust in accordance with such plan and the amount actuallydistributed, or made available to any distributee;
shall not be taxable under any tax ordinance enacted pursuant to theprovisions of sections 92.110 to 92.200.
2. The following income shall be exempt, regardless of who receives it,from such tax:
(1) The proceeds of life insurance policies paid to the individualbeneficiaries upon the death of the insured;
(2) The amount received by the insured as a return of premium orpremiums paid by him under life insurance or endowment contracts, eitherduring the term or at the maturity of the term mentioned in the contract orupon the surrender of the contract;
(3) Any amount received under workers' compensation acts, ascompensation for personal injuries or sickness, plus the amount of any damagesreceived whether by suit or agreement on account of such injuries or sickness,or through the war risk insurance act or any law for the benefit or relief ofinjured or disabled members of the military or naval forces of the UnitedStates;
(4) The value of property acquired by gift, bequest, devise or descent,but the income from such property shall be included as income;
(5) Interest upon the obligations of this state or of any politicalsubdivision thereof, or upon the obligations of the United States or itspossessions;
(6) Any income derived from any public utility performing functions ofnational government or those incident to the state or any politicalsubdivision thereof, or from the exercise of any essential government functionaccruing to any state, territory or the District of Columbia; provided, thatwhenever any state, territory or the District of Columbia, or any politicalsubdivision of a state or territory has, prior to the passage of chapter 143,RSMo, entered in good faith into a contract with any person or corporation theobject and purpose of which is to acquire, construct, operate or maintain apublic utility, no tax shall be levied under the provisions of chapter 143,RSMo, upon the income derived from the operation of such public utility, sofar as the payment thereof will impose a loss or burden upon such state,territory or the District of Columbia, or a political subdivision of thisstate; but this provision is not intended to confer upon such person orcorporation any financial gain or exemption or to relieve such person orcorporation from the payment of a tax as provided for in chapter 143, RSMo,upon the part or portion of said income to which such person or corporationshall be entitled under such contract.
(Reenacted L. 1953 2d Ex. Sess. p. 14 § 6, A.L. 1973 S.B. 25)
(1) Labor, agricultural or horticultural organizations;
(2) Mutual savings bank not having a capital stock represented byshares;
(3) Fraternal-beneficiary society, order or association, operating underthe lodge system or for the exclusive benefit of the members of a fraternityitself operating under the lodge system, and providing for the payment oflife, sick, accident or other benefits to the members of such society, order,or association or their dependents;
(4) Domestic building and loan associations and credit unions withoutcapital stock organized and operated for mutual purposes and without profit;
(5) Cemetery company owned and operated exclusively for the benefit ofits members, unless said cemetery is operated for profit;
(6) Corporation or association organized and operated exclusively forreligious, charitable, scientific or educational purposes, no part of the netincome of which inures to the benefit of any private stockholder orindividual;
(7) Business league, chamber of commerce or board of trade not organizedfor profit and no part of the net income of which inures to the benefit of anyprivate stockholder or individual;
(8) Civic league or organization not organized for profit but operatedexclusively for the promotion of social welfare;
(9) Club organized and operated exclusively for pleasure, recreation andother nonprofitable purposes, no part of the net income of which inures to thebenefit of any private stockholder or member;
(10) Farmers or other mutual hail, cyclone or fire insurance company,mutual ditch or irrigation company, mutual or cooperative telephone company,or like organization, the income of which consists solely of assessments, duesand fees collected from members for the sole purpose of meeting its expenses;
(11) Farmers, fruit growers or like association, organized and operatedas a sales agent for the purpose of marketing the products of its members andturning back to them the proceeds of sales, less the necessary sellingexpenses, on the basis of the quantity of produce furnished by them;
(12) Corporation or association organized for the exclusive purpose ofholding title to property, collecting income therefrom, and turning over theentire amount thereof, less expenses, to an organization which itself isexempt from the tax imposed by chapter 143, RSMo;
(13) Federal land banks and national farm loan associations, as providedin section 26 of an act of congress approved July 17, 1916, entitled "An actto provide capital for agricultural development, to create standard forms ofinvestment based upon farm mortgage, to equalize rates of interest upon farmloans, to furnish a market for United States bonds, to create governmentdepositaries and financial agents for the United States, and for otherpurposes";
(14) Joint stock land banks as to income derived from bonds ordebentures or other joint stock land banks or any federal land bank belongingto such joint stock land bank;
(15) Express companies which now pay an annual tax on their grossreceipts in this state and insurance companies which pay an annual tax ontheir gross premium receipts in this state;
(16) Trusts created by an employer and employees as part of a stockbonus, pension or profit-sharing plan, for the exclusive benefit of employees,to which contributions are made by such employer or employees, or both, forthe purpose of distributing to such employees the earnings and principal ofthe fund accumulated by the trust in accordance with such plan, or a trustconsisting solely of one or more restricted retirement funds created for oneor more self-employed persons as part of a retirement plan for the exclusivebenefit of such self-employed person or persons, to which contributions aremade by such self-employed person or persons, for the purpose of distributingto such self-employed person or persons the earnings and principal of the fundaccumulated by the trust in accordance with such plan and the amount actuallydistributed, or made available to any distributee;
shall not be taxable under any tax ordinance enacted pursuant to theprovisions of sections 92.110 to 92.200.
2. The following income shall be exempt, regardless of who receives it,from such tax:
(1) The proceeds of life insurance policies paid to the individualbeneficiaries upon the death of the insured;
(2) The amount received by the insured as a return of premium orpremiums paid by him under life insurance or endowment contracts, eitherduring the term or at the maturity of the term mentioned in the contract orupon the surrender of the contract;
(3) Any amount received under workers' compensation acts, ascompensation for personal injuries or sickness, plus the amount of any damagesreceived whether by suit or agreement on account of such injuries or sickness,or through the war risk insurance act or any law for the benefit or relief ofinjured or disabled members of the military or naval forces of the UnitedStates;
(4) The value of property acquired by gift, bequest, devise or descent,but the income from such property shall be included as income;
(5) Interest upon the obligations of this state or of any politicalsubdivision thereof, or upon the obligations of the United States or itspossessions;
(6) Any income derived from any public utility performing functions ofnational government or those incident to the state or any politicalsubdivision thereof, or from the exercise of any essential government functionaccruing to any state, territory or the District of Columbia; provided, thatwhenever any state, territory or the District of Columbia, or any politicalsubdivision of a state or territory has, prior to the passage of chapter 143,RSMo, entered in good faith into a contract with any person or corporation theobject and purpose of which is to acquire, construct, operate or maintain apublic utility, no tax shall be levied under the provisions of chapter 143,RSMo, upon the income derived from the operation of such public utility, sofar as the payment thereof will impose a loss or burden upon such state,territory or the District of Columbia, or a political subdivision of thisstate; but this provision is not intended to confer upon such person orcorporation any financial gain or exemption or to relieve such person orcorporation from the payment of a tax as provided for in chapter 143, RSMo,upon the part or portion of said income to which such person or corporationshall be entitled under such contract.
(Reenacted L. 1953 2d Ex. Sess. p. 14 § 6, A.L. 1973 S.B. 25)
