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Taxpayer protection bill signed by Governor Parson


July 14, 2020 - Governor Mike Parson today signed SB 676, a bill that helps protect property and income taxpayers. The bill was sponsored by Sen. Tony Luetkemeyer and handled in the House by Rep. Phil Christofanelli.


That bill contains important language aligning Missouri law with federal law when a partnership is audited by the IRS. AIM tax lobbyist Chuck Pierce worked extremely hard to educate legislators on the need for the legislation and worked with the Missouri Department of Revenue to develop the language. Pierce also coordinated support from key national taxpayer advocate organization Council on State Taxation (COST) on this very important bill. The partnership audit changes are effective with any final determinations occurring on or after January 1, 2021.


The bill also contains some good property tax protections, including a shift in the burden of proof to the county assessor and requiring physical inspections when the overall assessed valuation in a county increases by more than 15%. These provisions were formerly only effective in St. Louis City, St. Louis County and St. Charles County. Now those requirements will apply statewide. This provision is in response to dramatic increases in property tax assessments in many areas of the state.


The bill also has a "belt and suspenders" provision ensuring the CARES Act payments received by individuals are not subject to income taxes in Missouri.


The underlying bill also deals with deadlines for appeals of property tax assessments.


Thanks again to Sen. Luetkemeyer and Rep. Christofanelli, but also a special thanks to Chuck Pierce for his tireless work on behalf of Associated Industries of Missouri in passing this great pro-taxpayer bill!


The full summary may be found here:

https://house.mo.gov/billtracking/bills201/sumpdf/SB0676T.pdf

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