(Jefferson City) Governor Parson signed a bill into law today creating a sales tax for out-of-state companies selling products online to Missourians.
A 2018 U.S. Supreme Court decision allowed states to adopt rules to collect sales and use taxes from business not located in their state but who sell and deliver products into the state.
Missouri will be the final state to implement the law.
The legislation includes income tax cuts to help offset the projected sales tax revenue increase.
Parson says “with more than 570-thousand small businesses in Missouri, it’s time that we establish a 21st century tax code that benefits our Main Street businesses rather than companies that don’t invest in our communities or employ our citizens.”