With the enactment of S.B. 153 and 97 on June 30, 2021, Missouri became the last state with a sales tax to enact a law requiring remote sellers to collect Missouri tax for sales made into the state. The new law requires remote sellers and remote marketplace facilitators to collect and remit tax on sales when they have cumulative gross receipts in excess of $100,000. Missouri Governor Mike Parson had made passing this “Wayfair” legislation a top priority of his administration. He wanted to even the playing field between in-state brick and mortar businesses and out-of-state online retailers. The new law will be effective January 1, 2023. At that time, out-of-state online retailers will be required to collect and remit sales and use tax if they meet the nexus threshold. The change in the law will not be retroactive.
Ryan’s sales and use tax experts can assist businesses in signing up for the new obligations and in the collection and remittance of these taxes.
TECHNICAL INFORMATION CONTACT:
Mark L. Nachbar
Principal
Ryan
213.627.1719
mark.nachbar@ryan.com
The material presented in this communication is intended to provide general information only and should solely be seen as broad guidance and not directed to the particular facts or circumstances of any individual who may read this publication. No liability is accepted for acts or omissions taken in reliance upon the content of this piece. Before taking (or not taking) any action, readers should seek professional advice specific to their situation from Ryan, LLC or other tax professionals. For additional information about this topic, please contact us at info@ryan.com.