Most Active Stories
- Getting To Know Midtown's 'Running Superman'
- Collector And Gallerist Byron Cohen Dies At 72
- Liberty Hospital Announces Layoffs, Citing Pending 'Health Care Storm'
- 5 Things You Should Know About The Genetically Modified Food You’re Probably Eating
- Insight Into The Trials And Joys Of Transgender Relationships
Wed January 2, 2013
Report Suggests Missouri Missing Out On Internet Sales Tax Revenue
It appears that Missouri has lost more than $2 billion in revenue over the past nine years because it does not collect sales taxes on purchases made over the Internet.
A report issued by the University of Missouri’s Truman School of Public Affairs says that averages out to around $468 million a year. Jacob Hummel, the top Democrat in the Missouri House, says collecting taxes on Internet sales could help fund several critical needs, including K-12 schools.
“I think if you look at just levels of school funding, when adjusted for inflation, we’re back at levels in the early (19)90’s," says Hummel. "Clearly this is a way to enhance revenue.”
Republican legislative leaders contacted for this story have so far not responded – however, they’re on record as saying that authorizing Internet sales tax collections would be equal to a tax increase on Missouri businesses.
The 2013 regular session begins next week.