State and Local Tax Practice Leaders Featured in Small Business Monthly
In the November 2019 issue of Small Business Monthly “Financial Fitness” column, Karen Stern, Partner in Charge of the Brown Smith Wallace Entrepreneurial Services Group, and leaders from the Brown Smith Wallace State and Local Tax practice, discuss a recent tax law providing new opportunities for sales and use tax refunds for businesses.
Missouri Senate Bill 87 (SB 87), which modified several tax provisions and provides an expanded refund opportunity related to sales and use tax for businesses, went into effect on August 28, 2019. If you believe you have overpaid Missouri sales or use tax, you may file a claim for a refund within 10 years of the due date of original return or the date of overpayment, whichever is later. Prior to August 28, a refund claim had to be made within three years.
Read the full article here.