Missouri House gives final approval to tax amnesty bill
The Missouri House of Representatives
The Missouri House of Representatives gave final approval this morning to a bill that would give amnesty to businesses that are delinquent on past tax bills.
House Bill 55, filed by Representative Tom Flanigan (R-Carthage), would waive penalties and interest between Aug. 1 and Oct. 31 for companies that have not paid tax bills, but want to comply with state law.
“Associated Industries of Missouri has supported the tax amnesty bill for the past three years,” said Ray McCarty, president and CEO of AIM. “This bill allows businesses the benefit of getting on the tax rolls without penalty, while providing the state the benefit of new taxpayers.”
Past estimates show that approximately $75 million could be generated from the plan. The revenue generated from an amnesty period would help Republican House Budget Committee Chairman Rick Stream (R-Kirkwood) and his colleagues present a stronger budget for Missouri’s next fiscal year.
Governor Jay Nixon has supported the legislation which would give the state a one-time source of additional revenue.
The bill passed the House today by a vote of 153-1. It will now be considered by the Senate when they return from a weekend that was extended by an extra day due to winter storm warnings issued for many parts of Missouri.