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MO HB973
Bill
Status
3/31/2011
Primary Sponsor
Bart Korman
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AI Summary
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Establishes a seven-day sales tax holiday in early July (July 1-7, or July 2-8 if July 1 is a Sunday) for "Made in USA" products during 2012 and 2013.
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Defines "Made in USA" products as those meeting Federal Trade Commission standards for United States manufacturing claims and not already exempt from sales taxes.
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Allows political subdivisions to apply the sales tax holiday to local sales taxes by notifying the Department of Revenue at least 45 days in advance, and permits them to rescind participation with the same notice requirement.
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Requires retailers with less than two percent of merchandise qualifying for the holiday to offer sales tax refunds instead of exemptions.
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Excludes motor vehicles from all sales tax exemptions under this provision.
Legislative Description
Authorizes a state sales and use tax exemption on all retail sales of any "Made in USA" product except motor vehicles for a seven-day period in July 2012 and July 2013
Last Action
Public Hearing Completed (H)
4/20/2011