Records, Examination and Investigation

PURPOSE: This rule establishes requirements for maintaining records to be available for examinations and investigations. (1) Every licensee shall keep such records and books as may be required by Title 26 of the United States Code for federal income tax purposes. The books and records and other papers and documents, at all times during business hours of the day, shall be subject to inspection by the commission or its duly authorized agents and employees. The books and records shall be preserved for a period of at least five (5) years, unless the commission provides written authorization for their destruction at any earlier date. (2) For the purpose of ascertaining the correctness of any return or for the purpose of determining the amount of tax due from any licensee, the commission, or any agent or employee duly authorized by the commission, may hold investigations and hearings and may examine any books, papers, records or memoranda and may require, within any city or county where the licensee has its home dock, the attendance of the licensee, or any officer or employee of the licensee, or of any person having knowledge of matters relevant to the commission’s investigation, and may take testimony and require proof for its information. In the conduct of any investigation or hearing, neither the commission nor any agent or employee of the commission shall be bound by the technical rules of evidence and no informality in any proceeding, or in the manner of taking testimony, shall invalidate any order, decision or rule made or approved or confirmed by the commission. The commission or any agent or employee of the commission holding an investigation shall have power to administer oaths to the licensee or witness. AUTHORITY: sections 313.004, 313.800, 313.805, 313.822, and 313.830, RSMo 1994.* Emergency rule filed Sept. 1, 1993, effective Sept. 20, 1993, expired Jan. 17, 1994. Emergency rule filed Jan. 5, 1994, effective Jan. 18, 1994, expired Jan. 30, 1994. Original rule filed Sept. 1, 1993, effective Jan. 31, 1994. Amended: Filed Nov. 10, 1997, effective June 30, 1998. *Original authority: 313.004, RSMo 1993, amended 1994; 313.800 and 313.805, RSMo 1991, amended 1993, 1994; and 313.822 and 313.836, RSMo 1991, amended 1993.