MO HB740

Repeals and replaces section 144.054, RSMo, relating to sales tax exemptions

Defines "manufacturing, processing, compounding, mining, or producing" to explicitly include testing, installing, calibrating, maintaining, repairing, restoring, and all other activities essential to these processes

Exempts electrical energy, gas, water, coal, chemicals, machinery, equipment, and materials used in manufacturing, processing, compounding, mining, producing, or processing recovered materials from state sales tax (local sales taxes excluded)

Exempts utilities, machinery, and equipment used directly in television or radio broadcasting; defense contractor purchases; county/city/town/village sales or leases authorized under chapter 100; and railroad infrastructure property from state and local sales taxes

Exempts tangible personal property, utilities, and services purchased by private partners for public-private partnership projects under sections 227.600 to 227.669 from state and local sales taxes