PURPOSE: This rule indicates the liability of sellers of tangible personal property to national banks and other financial institutions for Missouri state use tax and interprets and applies section 144.615(1), RSMo.

1. (1) Persons selling tangible personal property or taxable services to national banks, other banks, credit unions or credit institutions, and savings and loan associations, whether state or otherwise, are subject to and liable for the use tax. Federal Reserve Banks and federal Land Banks are not subject to the use tax.

AUTHORITY: section 144.705, RSMo (1994).* U.T. regulation 615-1 originally filed Oct. 28, 1975, effective Nov. 7, 1975. Refiled March 30, 1976. *Original authority 1959.