SB 1036 Modifies provisions relating to sales and use tax exemptions
Sponsor: Koenig
LR Number: 6581S.01I Fiscal Notes
Committee: Ways and Means
Last Action: 3/1/2018 - Second Read and Referred S Ways and Means Committee Journal Page: S467
Title: Calendar Position:
Effective Date: August 28, 2018

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Current Bill Summary

SB 1036 - This act creates a definition for "manufacturing", "mining", "fabricating", or "producing", as such terms are used for the purposes of sales and use tax exemptions.

Such terms defined as being determined under the integrated plant theory and are consistent with the purposes of encouraging economic development through the location and expansion of business in Missouri through the commercial production of products that are subject to sales tax and include, but are not limited to, removal of minerals from the ground, organizing information through computer technology, taking something practically unsuitable for any common use and changing it so as to adapt it to such common use, the production of telecommunications services, and using raw materials to produce products that have an intrinsic and merchantable value. Such definition is a clarification of existing law.