Missouri Code of State Regulations
Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE
Division 1140 - Division of Finance
Chapter 6 - Interpretive Rulings
Section 20 CSR 1140-6.056 - Tax Preparation Services

Universal Citation: 20 MO Code of State Regs 1140-6.056
Current through Register Vol. 49, No. 6, March 15, 2024

PURPOSE: The comptroller of the currency has authorized national banks to engage in tax preparation activities. Absent similar powers, state-chartered banks are at a competitive disadvantage. This rule authorizes state-chartered banks to engage in the same activities. Since this rule is issued under the so-called ''wild card'' provisions of section 362.105.3., RSMo, the powers authorized in this rule cannot be significantly more liberal than those granted to national banks.

State-chartered banks, either directly or through a subsidiary, may provide individuals, businesses and nonprofit organizations tax preparation services.

*Original authority: 361.105, RSMo 1967; and 362.105.3, RSMo 1939, amended 1949, 1963, 1965, 1967, 1977, 1983, 1986.

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