HCS SB 460 -- SALES/USE TAX

SPONSOR:  Klarich (Kennedy)

COMMITTEE ACTION:  Voted "do pass" by the Committee on Ways and
Means by a vote of 14 to 0.

This substitute corrects statutory references related to the
state and local sales and use tax exemption on purchases of
bullion and investment coins.

The substitute also creates the Simplified Sales and Use Tax
Administration Act.  The act allows the State of Missouri to
enter into the Streamlined Sales and Use Tax Agreement with one
or more states to simplify the sales and use tax laws and brings
the laws into general conformity among the agreeing states.  The
act also allows the state to continue negotiations with other
states to determine the best approach for obtaining conformity,
allows the Department of Revenue to adopt administrative rules
and procure goods and services in furtherance of the cooperative
agreement, and provides for the development of certified service
providers for the purpose of collecting and remitting sales and
use tax on behalf of sales and use taxpayers.

FISCAL NOTE:  No impact on state funds.

PROPONENTS:  Supporters say that the bill clarifies references
to local sales taxes that were mistakenly omitted when the law
was passed last year.

Testifying for the bill was Senator Klarich.

OPPONENTS:  There was no opposition voiced to the committee.

Bill Tucker, Assistant Director of Research

Missouri House of Representatives
Last Updated November 26, 2001 at 11:47 am