MO SB530

Repeals and replaces section 143.183, RSMo, to impose a 2% withholding tax on compensation paid to nonresident entertainers and professional athletes when compensation exceeds $300.

Exempts tax-exempt organizations under 26 U.S.C. Section 501(c)(3) that receive no benefit from the performer's appearance other than the performance itself.

Removes sunset dates from provisions allocating tax revenues to four cultural and educational funds: 60% to Missouri Arts Council Trust Fund, and 10% each to Missouri Humanities Council Trust Fund, Missouri State Library Networking Fund, and Missouri Public Television Broadcasting Corporation Special Fund.

Requires employers to file quarterly withholding returns with the Director of Revenue and subjects them to penalties and interest for non-compliance.

Excludes from taxation prizes, bonuses, and incentive money from livestock, equine, or rodeo competitions and exempts presentations for professional or technical education purposes.