The suit asks for approximately $135 million in refunds on one miscalculation of the Hancock Amendment’s formula.
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This week in the Circuit Court of Cole County, the Honorable Thomas Brown entered orders certifying the MMMA/MO Chamber Hancock Refund Lawsuit as a Class Action.
“We are extremely pleased at this development as it guarantees that, if the Court orders the refunds, all income tax payers will receive the refunds. It is our hope that this case will be decided this summer and that the Missouri Supreme Court will expedite an appeal,” said Daniel P. Mehan, President/CEO of the Missouri Chamber of Commerce.
The suit asks for approximately $135 million in refunds on one miscalculation of the Hancock Amendment’s formula involving the exclusion of Conservation Sales Tax monies from state revenues. A second count of the suit asks for over $100 million due to the state failing to include certain tax credits in state revenues. The Constitution requires that total state revenues include tax credits that are not related to actual tax liabilities.
“If this lawsuit is successful, ALL income tax payers will reap the benefits of our persistence that the State has shortchanged us in the calculation of the Hancock Refunds,” said Sheelah R. Yawitz, president of the Missouri Merchants & Manufacturers Association.