Gov. Blunt Approves Tax Exemption For Missouri Manufacturers
Gov. Matt Blunt signed into law on Wednesday legislation that will give Missouri manufacturers a tax exemption on chemicals and several energy sources. KSMU's Greg Leuthen reports.
Missouri manufacturers will no longer have to pay sales taxes on electrical energy, gas, water, coal, or the chemicals used in the manufacturing process.
Dan Mehan, Missouri Chamber of Commerce President, says that the new law puts manufacturers in Missouri on a more level playing field with their competitors in bordering states. Mehan says that the tax exemptions should attract more manufacturing jobs to Missouri, but he does not know whether the reduced manufacturing costs will be felt by consumers.
The tax exemptions will be in place by August 28th, but do not take effect automatically. Mehan says that manufacturers must file their claims with the Department of Revenue to determine what can be legitimately claimed. To help in this process, the Missouri Chamber of Commerce and the Department of Revenue will be holding manufacturing exemption forums. Springfield will host an exemption alert forum on July 24th from 7:30-9am, and an exemption implementation forum on August 15 from 8am-1pm. Both forums will be held at University Plaza hotel.