92.040. Taxation and licensing of merchants and manufacturers by certain cities, exemptions. - Missouri Statutes

Taxation and licensing of merchants and manufacturers by certaincities, exemptions.

92.040. For the purpose of state, county, and municipaltaxes, merchandise held by merchants and the raw material,merchandise, finished products, tools, machinery and appliancesused or kept on hand by manufacturers shall constitute a classseparate and distinct by itself. All cities in this state havinga population of over three hundred thousand inhabitants areauthorized to levy for local purposes a less ad valorem rate oftaxation than that levied by them on real estate or otherproperty for the same purpose, and such reductions may from timeto time be arranged to apply on both or either the tax rate forpayments of valid indebtedness or the tax rate for city purposes.All such cities, for city and local purposes, are herebyauthorized to license, tax and regulate the occupation ofmerchants and manufacturers, and may graduate the amount ofannual license imposed upon a merchant or manufacturer inproportion to the sales made by such merchant or manufacturerduring the year next preceding any fixed date; provided, however,that no such license, tax, or regulation shall apply to grain andother agricultural crops in an unmanufactured condition, asdefined in section 137.010, RSMo, which are subject toassessment, valuation, and taxation under subsection 3 of section137.115, RSMo.

(RSMo 1939 §§ 7743, 7744, 10942, A.L. 1945 p. 1799 § 6, A.L. 1981 S.B. 13)

Prior revisions: 1929 §§ 7595, 7596, 9748; 1919 §§ 9005, 9006, 12758; 1909 §§ 9856, 9857, 11340

Effective 1-1-82

CROSS REFERENCES:

Farmer selling own produce, exempt from license tax, RSMo 71.630, 150.030

Merchants and manufacturers tax, assessment equalization and collection in St. Louis City, RSMo 150.090, 150.350