Effective Date of Option (Rescinded December 11, 1980)

AUTHORITY: section 144.270, RSMo 1978. S.T. regulation 020-8 was last filed Dec. 31, 1975, effective Jan. 10, 1976. Rescinded: Filed Aug. 13, 1980, effective Dec. 11, 1980. Op. Atty. Gen. No. 71, Buechner (4-8-77). A corporation involved in the rental and leasing of motor vehicles may elect either to pay sales tax at the time it receives the gross receipts from the rental or lease agreements or at the time of registration of motor vehicles. However, either election must include all motor vehicles held for rental or lease and a corporation with separately managed divisions may not elect to have one division pay Missouri sales tax at the time the vehicles are purchased and another division pay sales tax as rental proceeds are received from its customers.