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MO HB2215
Bill
Status
2/22/2010
Primary Sponsor
Jamilah Nasheed
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AI Summary
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Reduces the sales tax on retail food sales from 1% to 0% over a five-year period beginning January 1, 2011, with complete exemption by January 1, 2016.
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Requires equal annual percentage reductions in the food sales tax each year from 2011 through 2015 until no tax is imposed on food by 2016.
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Establishes new excise taxes on spirituous liquors (brandy, rum, whiskey, gin, and other spirits) and wines to replace lost food tax revenue for school funding.
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Adjusts excise tax rates annually on alcohol beverages to equal the amount of revenue lost from food tax reductions each year.
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Deposits all revenue from both the food tax and replacement alcohol excise taxes into the school district trust fund for distribution to schools.
Legislative Description
Phases out over a five-year period the state sales and use tax on the retail sales of food and replaces the revenue with an increase in the excise tax on wine and liquor
Last Action
Referred: Tax Reform (H)
5/14/2010