Effective - 23 Dec 2019, 2 histories
144.025. Transactions involving trade-in or rebate, how computed — exceptions — definitions — agricultural use, allowance. — 1. Notwithstanding any other provisions of law to the contrary, in any retail sale other than retail sales governed by subsections 4 and 5 of this section, where any article on which sales or use tax has been paid, credited, or otherwise satisfied or which was exempted or excluded from sales or use tax is taken in trade as a credit or part payment on the purchase price of the article being sold, the tax imposed by sections 144.020 and 144.440 shall be computed only on that portion of the purchase price which exceeds the actual allowance made for the article or articles traded in or exchanged, if there is a bill of sale or other record showing the actual allowance made for the article or articles traded in or exchanged. Where the purchaser of a motor vehicle, trailer, boat or outboard motor receives a rebate from the seller or manufacturer, the tax imposed by sections 144.020 and 144.440 shall be computed only on that portion of the purchase price which exceeds the amount of the rebate, if there is a bill of sale or other record showing the actual rebate given by the seller or manufacturer. Where the trade-in or exchange allowance plus any applicable rebate exceeds the purchase price of the purchased article there shall be no sales or use tax owed. This section shall also apply to motor vehicles, trailers, boats, and outboard motors sold by the owner or holder of the properly assigned certificate of ownership if the seller purchases or contracts to purchase a subsequent motor vehicle, trailer, boat, or outboard motor within one hundred eighty days before or after the date of the sale of one or more previously-owned motor vehicles, trailers, boats, or outboard motors, or any combination thereof, and all related bills of sale showing the paid sale price are presented to the department of revenue at the time of licensing. A copy of all such bills of sale shall be left with the licensing office. Where the subsequent motor vehicle, trailer, boat, or outboard motor is titled more than one hundred eighty days after the sale of one or more motor vehicles, trailers, boats, or outboard motors, or any combination thereof, the allowance pursuant to this section shall be made if the person titling such article establishes that the purchase or contract to purchase was finalized prior to the expiration of the one hundred eighty-day period and presents to the department of revenue a copy of all such bills of sale.
2. As used in this section, the term "boat" includes all motorboats and vessels, as the terms "motorboat" and "vessel" are defined in section 306.010.
3. As used in this section, the term "motor vehicle" includes motor vehicles as defined in section 301.010, recreational vehicles as defined in section 700.010, or a combination of a truck as defined in section 301.010, and a trailer as defined in section 301.010.
4. The provisions of subsection 1 of this section shall not apply to retail sales of manufactured homes in which the purchaser receives a document known as the "Manufacturer's Statement of Origin" for purposes of obtaining a title to the manufactured home from the department of revenue of this state or from the appropriate agency or officer of any other state.
5. Any purchaser of a motor vehicle or trailer used for agricultural use by the purchaser shall be allowed to use as an allowance to offset the sales and use tax liability towards the purchase of the motor vehicle or trailer any grain or livestock produced or raised by the purchaser. The director of revenue may prescribe forms for compliance with this subsection.
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(L. 1963 p. 195, A.L. 1977 S.B. 367, A.L. 1979 S.B. 218, et al., A.L. 1985 H.B. 280, et al., S.B. 152, A.L. 1986 H.B. 957, A.L. 1994 S.B. 477, et al., A.L. 1998 S.B. 936, A.L. 2003 H.B. 600, A.L. 2004 S.B. 1233, et al. merged with S.B. 1394, A.L. 2005 H.B. 487, A.L. 2019 1st Ex. Sess. H.B. 1)
Effective 12-23-19
(2019) For purposes of calculating sales tax, section permits the sale proceeds of only one vehicle as a credit against the purchase price of a new vehicle. Kehlenbrink v. Director of Revenue, 577 S.W.3d 798 (Mo.).
Structure Missouri Revised Statutes
Title X - Taxation and Revenue
Chapter 144 - Sales and Use Tax
Section 144.008 - Nonseverability clause.
Section 144.010 - Definitions.
Section 144.013 - Tax imposed in accordance with federal Mobile Telecommunications Sourcing Act.
Section 144.015 - Promulgation of rules.
Section 144.020 - Rate of tax — tickets, notice of sales tax.
Section 144.030 - Exemptions from state and local sales and use taxes.
Section 144.034 - Exemption, advertising and advertising products.
Section 144.037 - Exemption for retail sales made through the use of federal food stamp coupons.
Section 144.039 - Exemption, purchases by state legislator, when.
Section 144.043 - Light aircraft, definitions — exemption from sales tax, when.
Section 144.046 - Exemption for electrical current to battery manufacturers, when.
Section 144.050 - Additional to other taxes — exceptions.
Section 144.053 - Farm machinery and equipment exempt from state and local sales and use tax, when.
Section 144.054 - Additional sales tax exemptions for various industries and political subdivisions.
Section 144.060 - Purchaser to pay sales tax — refusal, a misdemeanor — exception.
Section 144.064 - Firearms or ammunition, limitation on sales tax levied.
Section 144.071 - Rescission of sale requires tax refund, when.
Section 144.088 - Definitions — rate of sales tax stated on receipt or invoice, when, contents.
Section 144.090 - Director may require monthly or annual returns instead of quarterly — when due.
Section 144.115 - Returns kept four years — destroyed, when.
Section 144.130 - Refunds to purchasers, deduction.
Section 144.157 - Violations in collecting, penalty.
Section 144.160 - Extension of time by director for payment of tax.
Section 144.170 - Interest on delinquent taxes — rate.
Section 144.200 - Appropriation for refunds.
Section 144.230 - Assessed penalty and tax due, when.
Section 144.240 - Assessment final when, appeal — procedures.
Section 144.261 - Review by administrative hearing commission.
Section 144.270 - Rulemaking authority.
Section 144.300 - Director may demand information.
Section 144.310 - Records kept by director.
Section 144.320 - Records required to be kept.
Section 144.330 - Examination of records — investigations.
Section 144.340 - Exemption from testifying — immunity from prosecution.
Section 144.350 - Penalty for failure to testify.
Section 144.390 - Unpaid taxes may be recovered at law — procedure.
Section 144.400 - Suit for taxes filed, where — jurisdiction.
Section 144.410 - Remedies of state, cumulative.
Section 144.420 - Certification of delinquencies to attorney general — collection suits.
Section 144.425 - Compromise of delinquent taxes — percentage — limitation — procedure.
Section 144.427 - Taxpayer's agreement to certain conditions to obtain compromise.
Section 144.430 - Legal expenses.
Section 144.450 - Exemptions from use tax.
Section 144.470 - Taxes now authorized not prohibited.
Section 144.480 - Failure to furnish a return, penalty.
Section 144.490 - Penalty for false return.
Section 144.500 - Penalty for fraud or evasion.
Section 144.510 - Violation of this law a misdemeanor.
Section 144.513 - College bookstores, sales by, subject to tax.
Section 144.517 - Textbooks, sales and use tax exemption.
Section 144.527 - Farmers' market, sales and use tax exemption for farm products sold.
Section 144.600 - Title of law.
Section 144.605 - Definitions.
Section 144.613 - Boats and boat motors — tax to be paid before registration issued.
Section 144.620 - Presumption arising from sale for delivery to state.
Section 144.625 - Vendors may be required to give bond.
Section 144.630 - Agent of vendor for service, designation or agreement as to — process served, how.
Section 144.635 - Vendor to collect tax from purchasers — selling agent not liable for tax, when.
Section 144.640 - Taxpayer to keep records, examination.
Section 144.645 - Investigations, subpoenas, oaths.
Section 144.650 - Vendors to register, information required.
Section 144.655 - Return, when filed — payment, when due — rules — exemption, limits.
Section 144.660 - Director's powers as to returns.
Section 144.665 - Failure to file return, penalties — exceptions.
Section 144.670 - Additional assessment made when, notice.
Section 144.675 - Penalty assessed for fraud or evasion, notice.
Section 144.695 - Excess payments to be adjusted or refunded.
Section 144.696 - Refund of overpayments — claim for refund — time for making claims.
Section 144.705 - Rules and regulations, adoption — copies available.
Section 144.715 - Notices served, how.
Section 144.720 - Sales tax interest and penalty provisions applicable.
Section 144.725 - Failure to obey subpoena or to produce books, a misdemeanor.
Section 144.730 - Advertising that vendor absorbs tax, a misdemeanor.
Section 144.735 - Failure to make return, pay tax or keep records, penalty.
Section 144.740 - False return or statement, penalty.
Section 144.745 - Violation not having a specific penalty deemed a misdemeanor.
Section 144.809 - Exemption for aviation jet fuel, when.
Section 144.815 - Bullion and investment coins, sales and use tax exemption.