Missouri 2024 Regular Session

Missouri House Bill HB1464

Introduced
1/3/24  

Caption

Creates a sales tax exemption for food

Impact

The introduction of this bill could significantly impact state laws regarding sales tax collection and distribution. By exempting food from sales tax, it is anticipated that the state will experience a reduction in tax revenue generated from retail sales. This could pose challenges to the state budget, particularly in funding public services or programs traditionally supported by sales tax revenues. However, supporters advocate that the long-term benefits, such as improved public health outcomes through better access to healthy food options, may outweigh immediate fiscal constraints.

Summary

House Bill 1464 aims to create a sales tax exemption for certain food items in Missouri. The bill proposes that all retail sales of food eligible for food stamps will be exempt from sales and use tax, thereby easing the financial burden on consumers purchasing basic food products. This initiative is part of a broader effort to enhance economic relief for residents, particularly those facing financial hardships. The exemption specifically details what constitutes 'food' for tax purposes, aligning with federal food stamp regulations, and excludes prepared food from establishments where a majority of sales are for immediate consumption.

Contention

Notable points of contention around HB1464 may arise from concerns regarding the potential for lost revenue versus the anticipated social benefits. Opponents may argue that while the exemption helps consumers, it could lead to budget shortfalls that will necessitate cuts in other important areas of public service. Additionally, the selective nature of the exemption—with specific exclusions for prepared foods—could be a subject of debate among lawmakers and stakeholders who might push for a broader interpretation that includes more food products, thereby raising further discussions about equity in taxation.

Companion Bills

No companion bills found.

Previously Filed As

MO HB260

Creates a sales tax exemption for food

MO HB1136

Authorizes sales tax exemptions of the retail sale of food and certain necessary personal hygiene products

MO HB744

Authorizes sales tax exemptions for diapers and infant formula

MO HB154

Provides a sales tax exemption for sales of certain medical devices

MO HB945

Authorizes a sales tax exemption for boat dock rentals

MO HB1141

Provides a sales tax exemption for certain used tangible personal property

MO HB896

Exempts the retail sale of food from local sales tax

MO HB452

Exempts the retail sale of food from state and local sales and use tax

MO HB591

Exempts the retail sale of food from state and local sales and use tax

MO SB73

Authorizes sales tax exemptions for certain purchases

Similar Bills

No similar bills found.