Equipment in Missouri
MISSOURI – When claiming tax exemptions for purchasing supplies or equipment, it’s important to meet all the requirements for the exemption – including location-based ones.
Engineering and architectural firms can purchase computers, software or computer security systems without paying sales and use tax.
One such firm had multiple locations, including an international office, and they were all treated as a single entity for tax purposes.
To qualify for the tax break, the headquarters of at least four of those locations had to be located in Missouri. The business met that requirement, the Dept. of Revenue said in a letter ruling.
So even though some of its offices were outside the state (and the country), it could claim the exemption.
- Share on
Free Training & Resources
Further Reading
The U.S. Supreme Court (SCOTUS) handed down enough precedent-breaking decisions this spring to make anyone’s head spin. The upshot: B...
The provision in the 2017 Tax Cuts & Jobs Act calling for a one-time tax on foreign investments survived an appeal to the Supreme Court...
Many businesses are hesitant to spend big bucks on capital improvements or new equipment due to inflation, high interest rates and economic...
The IRS is extending an olive branch to businesses that received tax credits related to COVID-19 in error. The tax cops are launching a ...
After the flood of new e-commerce sales tax rules in the five years since the South Dakota v. Wayfair Supreme Court decision, this may be t...
Another April 15 came and went, leaving many of us poorer and grumbling about government spending. For business owners and the CFOs and con...
