Missouri State Senate

House Amendment

SCS/SB 612 - Current allocations of tax revenues derived from the nonresident entertainer and athlete tax to the Missouri arts council trust fund, the Missouri humanities council trust fund, the Missouri state library networking fund, the Missouri public television broadcasting corporation special fund, and the Missouri historic preservation revolving fund are authorized to be made for all taxable years beginning on or after January 1, 1999, but ending on or before December 31, 2015. This act allows such allocations until December 31, 2020. The act also specifies that such allocations are subject to appropriations.

This act is similar to SB 166 (2013), SB 530 (2012), SB 293 (2011) and HB 429 (2011).

MIKE HAMMANN

HA#1 - SPECIFIES A METHOD OF CALCULATING WHAT PORTION OF A CORPORATION'S INCOME IS TAXABLE IN MISSOURI, REQUIRES NOTIFICATION OF CHANGES IN INTERPRETATION OF SALES TAX LAW, AND CREATES A SALES AND USE TAX EXEMPTION FOR COMMERCIAL LAUNDRIES.

HA#2 - ALLOWS CERTAIN SMALL BUSINESSES TO FILE WITHHOLDING TAXES ON AN ANNUAL BASIS.

HA#3 - ALLOWS SELLERS TO ADVERTISE THAT SALES TAX WILL BE ABSORBED BY THE BUSINESS.

HA#4 - AUTHORIZES AMNESTY FOR PENALTIES AND INTEREST ON DELINQUENT STATE TAXES.

HA#5 - ALLOWS TAXPAYERS TO CLAIM A CREDIT OR REFUND AFTER THE STATUTE OF LIMITATIONS HAS RUN IF THE DEPARTMENT OF REVENUE EXAMINES THE TAXPAYER'S FILE AFTER SUCH TIME PERIOD.

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