PURPOSE: This rule provides that untimely filing precludes taking the timely filing discount and interprets and applies section 144.140, RSMo (1986).

1. (1) A seller who fails to pay timely or pays after obtaining an extension of time for filing his/her return is not entitled to deduct or retain the two percent (2%) timely payment discount.

AUTHORITY: section 94.615, RSMo 1986. T.T. regulation 615-2 originally filed as C.S.T. regulation 540-2 Dec. 31, 1975, effective Jan. 10, 1976. Made applicable by statute and T.T. regulation 615-1 last filed Dec. 31, 1975, effective Jan. 10, 1976. Farm and Home Savings Assn. v. Spradling, 538 SW2d 313 (Mo. 1976). The two percent deduction is allowable only when the person required to remit the taxes does so on or before the date the taxes are due.