HB 1679 Summary

• Establishes the "Sales Tax Technology Act" requiring Missouri to implement an automated sales and use tax collection system for credit and debit card transactions effective July 1, 2013.

• Makes the system mandatory for new businesses (starting after July 1, 2013) and delinquent businesses, while allowing other businesses to voluntarily enroll; businesses must comply within 30 calendar days or face license revocation.

• Requires participating businesses to use electronic cash register systems to transmit transaction data daily to payment service providers, which then remit collected taxes directly to a state direct deposit account.

• Authorizes the director of revenue to contract with third-party tax collection providers to operate the system and requires secure web portal access for merchants and the director to track sales and tax remittance data with up to 185 days of history.

• Exempts compliant businesses from posting sales tax security bonds and allows them to claim collection allowances with monthly reconciliation reports; exempts annual filers and certain businesses with integrated systems like gas stations and hotels.