MO HB2072

Requires the Director of Revenue to annually submit an electronic report to the Speaker of the House and President Pro Tem of the Senate beginning January 31, 2013, listing all jurisdictions that have adopted a local use tax on motor vehicles, trailers, boats, and outboard motors.

Repeals and re-enacts section 144.070, RSMo, which governs sales and use tax collection on motor vehicles, trailers, boats, and outboard motors at the time of title and registration.

Maintains existing provisions requiring owners to present evidence of purchase price and pay applicable sales tax to the Director of Revenue before receiving a certificate of title.

Preserves provisions allowing rental and leasing companies to apply for authority to operate as leasing companies and pay sales tax on rental or lease agreements rather than at time of purchase.

Maintains provisions allowing motor vehicle dealers licensed under section 301.560 to collect and remit sales tax on motor vehicles sold, with entitlement to retain 2 percent of collected tax.