ELECTRONIC TAX BILLS - Sections 52.230 & 52.240

Currently, in all counties other than counties with a charter form of government or counties under township organization, statements of property taxes due are sent by mail to taxpayers. This act authorizes such counties to send the statement electronically. The electronic address provided by the taxpayer will be considered a closed record.

The act specifies that no penalty or interest will be imposed on delinquent property taxes if the statement was mailed less than thirty days before the delinquent date and the taxpayer paid the taxes within fifteen days of the delinquent date or fifteen days of receiving the mailed statement, whichever occurs later.

These provisions are substantially similar to HB 63 (2013).

TAX INCREMENT FINANCING - Section 99.845

Currently, fifty percent of additional revenue generate by taxes and attributable to economic activities in a redevelopment area utilizing tax increment financing are to be deposited into the special allocation fund for the TIF project. Certain taxes are exempt from this deposit requirement. This amendment adds for projects approved after August 28, 2013, taxes imposed to pay for emergency communications systems in St. Louis County to the list of exemptions. The amendment also adds what is commonly referred to as the "Arch Tax" to the exemptions.

This provision is similar to a provision contained in SCS/HCS/HB 161 (2013), SS/SCS/HB 307 (2013), SS/HB 336 (2013), HCS/HB 653 (2013), CCS#2/SCS/HCS/HB 1035 (2013), and CCS/HCS/SB 23 (2013).

CALCULATION OF MISSOURI TAXABLE CORPORATE INCOME - Section 143.451

Currently, to determine Missouri taxable income for a corporation, the in state sales are added to one-half the sales partially occurring in the state and this amount is then divided by the total amount of sales. This amount is then multiplied by the net income of the corporation to determine the Missouri taxable income. A sale is in state if the seller's shipping point and purchaser's destination point are both in this state. A sale is partially in this state if the seller's shipping point is in this state and the purchaser's destination point is outside this state, or vice versa.

This act determines Missouri taxable income for a corporation by dividing in state sales by the total amount of sales and multiplying this fraction by the net income of the corporation. A sale is in state if the purchaser's destination point is in this state. A sale is not in this state if the purchaser's destination point is outside this state.

This provision is identical to SB 461 (2013) and HB 1029 (2013).

MIKE HAMMANN