Use Tax Q and A: Question 3

Sustainability Manager Barbara Buffaloe answeres the question: How is the Use Tax reported?

Businesses report their use tax quarterly to the State of Missouri. If the business does not collect the tax, the consumer is responsible for self-reporting purchases subject to the Use Tax exceeding two thousand dollars ($2,000.00) in a calendar year to the Missouri Department of Revenue. Residents self-report annually on their taxes due every April 15. This is not a new reporting obligation imposed by Proposition 1. The reporting requirement is currently in existence for the State Use Tax of 4.225%.

For more information, including the official ballot language and additional details for businesses, visit the City of Columbia Use Tax page or the Missouri Department of Revenue.

Category:

Economy