PURPOSE: This rule indicates that the timely payment of taxes entitles the seller to a 12 CSR 10-5

deduction and interprets and applies section 144.140, RSMo (1986).

1. (1) For every remittance of tax made on or before the due date as 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.

   1. (A) 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: section 94.615, RSMo 1986. T.T. regulation 615-3 originally filed as C.S.T. regulation 540-3 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). Phrase “person required to remit the same” in statute providing that from every remittance to director of revenue made on or before date when same becomes due, person required to remit same should be entitled to deduct and retain amount equal to two percent (2%) thereof, means seller, not buyer, because it is seller who is required by other provisions of sales tax law to remit taxes due director.