HB 389 Allows businesses to make one monthly payment to the Dept. of Revenue to cover all taxes and fees assessed against it that month by the state and any political subdivision

Current Bill Summary

- Prepared by Senate Research -


SCS/HB 389 - This act modifies provisions relating to taxation of businesses.

MONTHLY PAYMENT OF TAXES AND FEES (32.420)

This act requires the Department of Revenue to set up a system allowing qualifying businesses to remit payment to the Department once per month to cover all taxes and fees assessed against such business by the state or any political subdivision in that month. The Department will remit received payments to the appropriate assessing entities. These provisions do not apply to fees and charges imposed by political subdivision providing certain utility services. These provisions do not take effect until January 1, 2018.

BUSINESS LICENCE TAXES ON HOTELS (94.1100)

This act limits the amount of business license taxes on hotels to the greater of 0.125% of the hotel's gross revenues or the tax rate imposed on May 1, 2015. This provision does not apply to taxes imposed by cities to pay off bonds outstanding as of May 1, 2005, or to taxes imposed by the City of St. Louis.

SALES TAX EXEMPTION FOR ELECTRIC GENERATION (144.058)

This act creates a state sales tax exemption for utilities, equipment, and materials used to generate or transmit electricity.

This provision is identical to SB 480 (2015) and HB 693 (2015). This provision is similar to HB 2255 (2014) and to a provision in CCS/HCS/SB 584 (2014).

MIKE HAMMANN


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