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
Webinars
Provided by Insightsoftware
Further Reading
States are always looking for ways to attract new businesses and prevent existing ones from pulling up stakes. Lowering corporate taxes is ...
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 ...
Who says Democrats and Republicans can’t agree? A few weeks back, Donald Trump advocated for eliminating taxes on tips of workers in ...
The IRS is about to put all of the the funding, personnel and technology advantages it now enjoys to use. Count on an upswing in audits of ...
The worst of the COVID-19 shutdown measures and George Floyd riots peaked less than three years ago. But the effects continue to rattle sta...
