Missouri Code of State Regulations
Title 12 - DEPARTMENT OF REVENUE
Division 10 - Director of Revenue
Chapter 101 - Sales/Use Tax-Nature of Tax
Section 12 CSR 10-101.700 - Bankruptcy and Other Court Appointments

Current through Register Vol. 49, No. 18, September 16, 2024

PURPOSE: This rule explains the treatment under federal law of sales and use tax in a bankruptcy or other court appointments, and the liability of trustees, assignees and receivers for sales and use tax.

(1) In general, any trustee, assignee or receiver must notify the department upon being appointed to such position by the court. The trustee, assignee or receiver is responsible for sales and use tax on behalf of the debtor.

(2) Basic Application.

(A) All outstanding sales and use tax, interest and penalties due the state from a debtor must be paid before any distribution to general unsecured creditors.

(B) When a court appoints any person, whether trustee, assignee or receiver, to take over any business and operate or liquidate it, the person appointed must collect and remit sales tax for the debtor during such appointment. The person appointed must use the sales tax license of the debtor during such appointment.

(C) The person appointed is liable for any tax, interest or penalties not paid as required by subsections (2)(A) and (B).

*Originalauthority: 144.270, RSMo 1939, amended 1941, 1943, 1945, 1947, 1955, 1961 and 144.705, RSMo 1959.

Disclaimer: These regulations may not be the most recent version. Missouri may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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