Legislators in both the house and senate have already passed the economic development bill, but the bill isn’t sitting too well with The Missouri Retailer’s Association. David Overfelt, President of the association, says revisions to the nexus statues included in the bill cause some "unintended consequences". Overfelt says the bill includes revisions to nexus statutes that would allow foreign corporations based in another state to own substantial interests in a distribution facility or warehouse in Missouri, without having to collect or remit sales taxes.
Overfelt says this would give businesses that out-of-state businesses a major advantage over retail businesses that are based in the state in sales and use taxes, corporate income and corporate francise taxes. Lawmakers have said they are going to try and fix the "unintended consequences" before the legislature adjorns Friday at 6.
AUDIO:Laura McNamara reports (:60 MP3)
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