HB1707 excludes credit and debit card processing fees from gross receipts for sales tax purposes in Missouri.
HB1707 amends Missouri's Sales Tax Law by excluding credit and debit card processing fees from the definition of gross receipts. This change means that businesses will not include these fees when calculating their taxable gross receipts. The bill redefines gross receipts to exclude these processing fees, impacting how sales tax is computed and reported by businesses. This provision applies to all sales and services subject to Missouri's sales tax laws.
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