JEFFERSON CITY, Mo. (AP) -- A proposal moving through the Missouri Legislature could decrease the taxes that telephone companies owe to local governments.
The legislation would let telephone companies choose a personal property tax assessment method that speeds up the depreciation of such items as vehicles, computers and equipment.
The State Tax Commission estimates that could result in up to a $6 million annual loss for cities, counties, fire districts and other local entities. The bill would spare school districts from losses.
Identical versions already have passed the House and Senate. The House version cleared a Senate committee Tuesday, putting it just one step away from final approval.
Traditional telephone companies say the measure puts them on equal tax ground with cable television and wireless phone companies, which offer similar services.