Local Sales/Use Tax Interest Distribution
The Department of Revenue holds the local sales tax monies in an interest-bearing account. The service fees charged by the financial institution for account management are paid through the interest earnings. While the Department is not required to distribute the net interest earnings, the Department will distribute the net interest earnings semi-annually. If service charges for the interest-bearing account are greater than the interest earned, no interest distribution will occur. The principle amount is not impacted.
Any political subdivision with questions, can contact the Missouri Department of Revenue, Local Tax Unit at 573-751-4876 or email at email@example.com.