MO HB2029

Repeals and reenacts section 144.030, RSMo, modifying sales and use tax exemptions for aircraft and aircraft-related materials.

Exempts materials, replacement parts, and equipment purchased for modification, replacement, repair, and maintenance of aircraft, aircraft power plants, and aircraft accessories from January 1, 2009 through January 1, 2015.

Maintains existing exemptions for aircraft sales to common carriers for storage or use in interstate commerce under subdivision (21).

Voids any agreements between the state and persons stating they are not required to collect sales and use tax despite operating warehouses or distribution centers in Missouri, unless approved by majority vote of both houses of the general assembly.

Applies to state and local sales and use taxes as defined in sections 144.010 to 144.525 and related statutes.