Mo Sales Tax Exemption over 65

There is a little known law in the State of Missouri that all of us should know about…..at least eventually.  If you or your spouse is 65 or older, and your income from sales of your art is less than 50% of your income, you DO NOT HAVE TO COLLECT AND SUBMIT SALES TAXES.  Really!  A part of the law is reproduced below.  For more information, check out Section 144.030, paragraph 25 of the Missouri Sale and Use Tax Law here.  And, of course, always run tax concerns through your tax or finance consultant.

Chapter 144
Sales and Use Tax
Section 144.030

August 28, 2012

 Exemptions from state and local sales and use taxes.

(25) All sales of handicraft items made by the seller or the seller’s spouse if the seller or the seller’s spouse is at least sixty-five years of age, and if the total gross proceeds from such sales do not constitute a majority of the annual gross income of the seller;