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MO SB174

Bill

Official Source

Status

Introduced

1/17/2013

Primary Sponsor

Mike Parson

Click for details

Origin

Senate

2013 Regular Session

AI Summary

  • Reduces Missouri corporate income tax rate from 6.25% to 6% effective January 1, 2014
  • Adds new presumptions for when out-of-state vendors engage in business activities within Missouri, including maintaining warehouses, distribution centers, or fulfillment centers
  • Requires any ruling or contract between the state and a vendor claiming exemption from sales tax collection despite physical presence in Missouri to be approved by majority vote of both houses of the general assembly
  • Expands nexus definition to include affiliate relationships under controlled group of corporations and allows presumption to be rebutted under certain circumstances
  • Establishes $10,000 threshold for affiliate referral commission arrangements to trigger presumption of doing business in Missouri

Legislative Description

Reduces the corporate income tax rate and modifies provisions relating to use tax nexus

Last Action

S Informal Calendar S Bills for Perfection--SB 174-Parson, with SCS

5/17/2013

Committee Referrals

Ways And Means And Fiscal Oversight1/31/2013

Full Bill Text

No bill text available