PURPOSE: This rule indicates the seller is entitled to a deduction for the timely payment of taxes.

1. (1) For every remittance of tax made on or before the due date required, the seller is entitled to deduct and retain an amount equal to two percent (2%) for timely payment. Note: A purchaser is not entitled to this deduction.
2. (2) Example. Mr. C operates a retail store and the amount of tax levied and imposed is between fifteen dollars ($15) and two hundred fifty dollars ($250) per month. Mr. C files a quarterly return due on or before the thirtieth day of the month following each quarter. If the return is paid and mailed on or before the thirtieth, Mr. C is entitled to the two percent (2%) discount. The postmark date is prima facie evidence of timely payment.

AUTHORITY: sections 67.515 and 67.706, RSMo 1986. Original rule filed Sept. 7, 1984, effective Jan. 12, 1985.