All Taxation And Revenue - Sales And Use Legislation - Missouri

SB 1275 - This act allows the director of the Department of Revenue to require that motor fuel tax returns be submitted electronically in an approved format after notifying affected entities in writing at least six months prior to the effective date. The director of the Department of Revenue may require employer withholding returns and payments be submitted in electronic format provided employers are notified a minimum of six months prior to the effective date of such requirements. Employers required to submit returns and payments electronically may appeal to the director of revenue for an exemption from this requirement. From January 1, 2008, to January 1, 2009, any person acting as a tax practitioner or preparer and who completed and filed more than two hundred individual income tax returns in the previous calendar year is required to transmit such returns either electronically or containing a two dimensional bar code in a format approved by the director. From January 1, 2009, to January [...]

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SB 1217 - Under this act, the sales and use tax is increased by an additional one percent. The provision of law authorizing the sales and use tax increase expires on December 31, 2018. The revenue derived from the one percent increase shall be used for the purposes of assisting in the reconstruction, rebuilding, construction, and conversion of Interstate 70 and Interstate 44 into an eight-lane interstate system. The act provides that the one percent sales tax shall be reduced in political subdivisions where a TDD sales tax has been imposed to finance highway projects that are intended to be merged into the state highway system. The sales tax in those areas shall be the difference between the one percent sales tax and the amount of the TDD sales tax. The act establishes a fund known as the "State Transportation Interstate Fund" into which the proceeds of the sales and use tax will be deposited. The state transportation interstate fund shall, upon appropriation, be used for the construction,[...]

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SB 1136 - This act creates three tax credit programs and two sales tax exemptions. The secondary mining use tax credit program provides a tax credit for taxpayers, including not-for-profit insurance companies, that incur expenses for the utilization of an existing mine for secondary uses equal to the lesser of hundred percent of such costs or one hundred thousand dollars. The tax credit is fully transferrable, and non-refundable, but may be carried forward five years. The tax credit has an annual aggregate state-wide cap of one million dollars. The provisions of this act will sunset six years from the effective date if not reauthorized. The Business Relocation for Secondary Mining Use Tax Credit program provides a tax credit to taxpayers, including not-for-profit insurance companies, that incur expenses in relocating to an existing mine for use of the mine other than mining equal to the lesser of fifty percent of such costs or ten thousand dollars. The tax credit is fully transferrable,[...]

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SB 1130 - Under this act, taxpayers are allowed tax credits for revenues received from public-private transportation projects. The tax credit shall be equal to the amount of revenues received in the taxable year for which the tax credit is claimed. The tax credit is not transferable or assignable. The tax credit provision is subject to the provisions of the Missouri Sunset Act and the tax credit shall sunset on August 28, 2014, unless reauthorized by the General Assembly. This act creates a sales tax exemption on items and services bought for use in public-private transportation projects. This act modifies the public-private transportation act by expanding the types of projects that may be completed under it. Under current law, the public-private transportation act is limited to the Mississippi River bridge project. Under this act, a public-private transportation project may include any bridge, street, road, highway, access road, interchange, intersection, traffic sign, traffic [...]

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SB 1020 - This act brings Missouri sales and use tax laws into compliance with the streamlined sales and use tax agreement. Compliance involves modifying many sections throughout Missouri law, based upon meeting the following criteria: (1) The sourcing of sales must be changed to be based on receipt. This means that current law is modified, where necessary, to consider the point of sale, and thus the applicable tax rate, to be the point of receipt of the product; (2) When a city annexes property, the change to the tax rate will take place on the first day of the second calendar quarter after the Director of Revenue receives notice of the boundary change; (3) The same provisions as in (2) shall apply to rate changes; (4) All sales taxes must be administered at the state level if they are not already; (5) All state and local sales taxes must have the same base. This means that exemptions at the state and local level must be identical; (6) Certain definitions, including [...]

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SB 1012 - This act allows the governing bodies of any city in this state to designate duty free zones within such city and grant such areas tax favored status for a term not to exceed twenty-three years. Tax favored status is defined as a reduction to or elimination of the rate of tax on transactions imposed under Missouri's sales and use tax laws. Duty free zones may only be established in blighted areas located within qualified census tracts. The act requires the governing body of a municipality to hold public hearings prior to the adoption of an ordinance designating an area of such municipality as a duty free zone. The act requires the governing body to provide notice of such hearings to affected taxing districts and the public. Upon receiving municipal approval, the designation must be approved, at the same rate of tax and term, by the county in which the city is located and by the Missouri Development Finance Board. Upon the issuance of a certificate of approval from the Missouri [...]

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SB 743 - This act makes various modifications to Missouri tax law. The act: (1) Decouples Missouri's income tax from the federal income tax code. The act adopts the IRC as it was written January 1, 2004 (section 143.091); (2) Reinstates the decoupling from the federal accelerated depreciation and makes it permanent (section 143.121); (3) Eliminates the timely filing discount for employers who withhold their employees' income tax (sections 143.225 & 143.261); (4) Modifies the way losses and operating expenses are deducted among parties for various types of property, including intellectual property. Minimum standards are established regarding what connections among various corporate entities constitute related parties and affiliated groups for multi-state corporate income tax purposes. Under this provision, the entire profit of a unitary group will be aggregated and then divided among the members of the group. This allocation will be based upon the relative incomes of the [...]

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SCS/SB 749 - This act creates an income tax credit for the costs of constructing a qualified alternative fuel vehicle refueling property. The tax credit shall not exceed the lesser of twenty thousand dollars or twenty percent of the costs directly associated with the purchase and installation of any alternative fuel storage and dispensing equipment. The cumulative amount of credits which may be claimed shall not exceed three million dollars for taxable year 2009. For taxable year 2010, the cumulative amount of tax credits which may be claimed is reduced to two million dollars, and for taxable year 2011, the amount is further reduced to one million dollars. The tax credit is non-refundable, but may be carried forward for two subsequent tax years. The tax credit is fully transferable. The act contains a recapture provision for refueling properties which cease sales of alternative fuel. The provisions of the act creating the tax credit program will automatically expire six years from the effective [...]

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