Seller Entitled (Rescinded February 28, 2006)

AUTHORITY: section 94.530, RSMo 1986. C.S.T. regulation 540-3 originally filed Oct. 28, 1975, effective Nov. 7, 1975. Refiled Dec. 31, 1975, effective Jan. 10, 1976. Rescinded: Filed Aug. 26, 2005, effective Feb. 28, 2006. Farm and Home Savings Assn. v. Spradling, 538 SW2d 313 (Mo. 1976). Purpose of allowing retention of two percent (2%) tax due was to compensate seller who was required, as part of his regular course of business, to collect sales tax from buyer, keep records and make remittance to director, all of which could increase seller’s cost of doing business; it was not primary purpose of statute to give tax reduction simply because tax was paid when due, although deductions may very well encourage prompt payment.