MO SB1534

Credit card and debit card processing fees are explicitly exempted from Missouri sales tax by excluding them from the definition of "gross receipts" under sections 144.010 to 144.525

Amends section 144.010, RSMo, to add card processing fees to the existing exemption for "charges incident to the extension of credit"

Applies to state sales tax calculations, meaning retailers will not owe sales tax on the portion of transactions that covers card processing costs

Introduced during the Second Regular Session of the 103rd General Assembly as a Senate Committee Substitute