The SALT Parity Act allows electing S corporations or partnerships to elect to be taxed at the entity level which allows eligible shareholders or partners to take a credit on their individual or fiduciary return for taxes paid.

Per the Missouri FAQ page:

"Beginning with tax years ending on or after December 31, 2022, a S corporation or partnership (pass-through entity) can annually elect to become an affected business entity required to pay the pass-through entity tax. Qualifying members of an electing pass-through entity are eligible for a credit equal to the member’s pro rata share of the pass-through entity tax paid. (Section 143.436, RSMo)."

1120-S or 1065

In Drake Tax, to make the election, go to MO screen PTE and mark the box Election to become an Affected Business Entity. Form MO PTE and the MOPTE Voucher are not e-fileable and there are no options for electronic payments this year.

• Form MOPTE generates. Using the information listed on page 4 of this form, the member can claim a credit on their individual return.

• MOPTEV is produced showing the payment amount. Electronic payment is not available. A check, money order, or cashier's check may be mailed with the voucher to:

Missouri Department of Revenue

PO Box 3080

Jefferson City, MO 65105-3080​

Advanced payment vouchers for next year's PTET can be produced by using the ES screen on the States tab. On the right-hand side, select St/City as MO and choose a rounding option in the ES Code drop list. This will produce four MOPTEAP vouchers in View/Print mode (Form MO-PTEAP, 2022 Pass-Through Entity Anticipated Tax Payment Voucher).

• Electronic filing of Forms MO-PTEAP is not allowed.

• Electronic payment is not available. A check, money order, or cashier's check may be mailed with each voucher to:

Missouri Department of Revenue

PO Box 3080

Jefferson City, MO 65105-3080​

1040

In Drake Tax, open MO data entry > Credits tab > screen TC. Choose Credit Code: SPA and enter the credit amount under the Taxpayer and/or Spouse column. In View/Print mode, attach a PDF showing the supporting documentation for the credit that the taxpayer received from the electing pass-through entity to clear EF Message 0368. The required name of the PDF is MOSPA_1.PDF.

The credit amount will show on Form MOTC.