Revised October 1, 2007
Detailed are provisions relating to sales tax to be collected on all taxable sales made by the University. Appropriate state, county, city and mass transportation sales tax must be collected on all taxable sales made by the University.
| Jurisdiction | UMC | UMKC | UMR | UMSL |
|---|---|---|---|---|
| State | 4.225 % | 4.225 % | 4.225 % | 4.225 % |
| County | 1.325 % | 1.125 % | 0.875 % | 1.850 % |
| City | 2.000 % | 2.375 % | 2.500 % | 0.750 % |
| TOTALS | 7.550 % | 7.725 % | 7.600 % | 6.825 % |
For sales occurring outside the taxing district in which the principal campus is located, only the tax rate applicable at the physical point of sale is to be collected.
Sales tax charged on qualifying food items is 3% less than the normal tax rate.
Textbook sales are exempt from the state portion of the sales tax rate.
Sales tax is not collected on the following:
All refunds made on taxable sales items must include the amount of sales tax collected.
NOTE: In bookstore operations, "buy backs" are purchases for resale, not refunds.
Tickets
All tickets subject to sales tax must have printed, stamped or otherwise endorsed thereon, the words, "This ticket is subject to (applicable %) sales tax."
Receipts, Sales Slips, Etc.
The amount of sales tax collected must be identified and set forth separately on each:
All sales tax collected must be reported as income on a Cash Receipts Report and deposited with other cash receipts.
REFERENCE: BPM 209 Revenue Accounts provides a web site which details the accounts to be used to code all income (revenue).
Monthly, UM System Accounting will compute the amount of sales tax due from each department based on previous month's taxable deposits. That amount will be charged back on a mechanical Journal Voucher, prepared and processed by UM System Accounting, reducing the depart¬ment's income.
Additional information about sales tax and charts detailing the amount of tax to be collected for various sales amounts are available from the campus business office.