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MO HB1983
Bill
Status
3/22/2012
Primary Sponsor
Bart Korman
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AI Summary
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Exempts retail sales of "Made in USA" products from state sales tax for a seven-day period each July (July 1-7, or July 2-8 if July 1 is a Sunday) during 2013 and 2014.
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Defines "Made in USA" products as new products meeting Federal Trade Commission "Made in USA" claim standards and not already exempt from sales taxes under state law.
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Caps the exemption at $15,000 per purchase and excludes motor vehicles from the tax holiday.
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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 before the holiday begins.
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Requires retailers to offer a sales tax refund instead of the holiday exemption if fewer than 2 percent of their merchandise qualifies as "Made in USA" products.
Legislative Description
Authorizes a state sales and use tax exemption on all retail sales of any "Made in USA" product except a motor vehicle for a seven-day period in July 2013 and July 2014
Last Action
Voted Do Pass (H)
4/25/2012