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Section 94.575 Definitions.

MO Rev Stat § 94.575 (2019) (N/A)
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Effective 28 Aug 2001

94.575. Definitions. — The following words, as used in sections 94.575 to 94.577, shall mean:

(1) "Capital asset" or "fixed asset", assets of a long-term character that are intended to continue to be held or used, including but not limited to land, buildings, machinery, furniture, and other equipment, including computer hardware and software;

(2) "Capital improvements", any capital or fixed asset having an estimated economic useful life of at least two years.

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(L. 2001 S.B. 352)

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Section 94.577 Sales tax imposed in certain cities — rates of tax — election procedure — revenue to be used for capital improvements — revenue bonds, retirement — special trust fund — limitation on use of revenue by city of St. Louis — refunds authorized — Kansas City alternative tax authorized.