SB 777 - Current law taxes retail sales of food, as defined in current law, at a rate of one percent. This act provides that retail sales of food shall be exempt from state sales taxes, and authorizes political subdivisions to exempt food from local sales taxes. (Section 144.014) This provision is substantially similar to SCS/SB 161 (2023), HB 260 (2023), HB 452 (2023), HB 591 (2023), HB 896 (2023), HCS#2/HB 1992 (2022), HB 1817 (2022), and HB 2530 (2022), and to a provision in SCS/HCS/HB 154 (2023), HB 377 (2023), HCS/HBs 876, 771, 676 & 551 (2023), HB 1136 (2023), HB 1779 (2022), and HB 2249 (2022).
This act also provides that 28.125% of the revenue derived from the 4% state sales tax rate shall be deposited in the School District Trust Fund. (Section 144.020)
JOSH NORBERG