Trade shows

From the 2024 DOR Tax Exemption Study

82.04.4282(6) - Trade shows Description Nonprofit trade or professional organizations sponsoring a trade show, convention, or educational seminar not open to the general public may take a B&O tax deduction for amounts received as fees to attend and occupy space at the sponsored event. Purpose Recognizes fees to attend and occupy space at a sponsored trade show, convention, or education seminar not open to the general public are not a taxable activity and are not included in the gross income of the business. Taxpayer ($ in millions): savings FY 2024 FY 2025 FY 2026 FY 2027 State Taxes $0.065 $0.068 $0.071 $0.074 Local Taxes $0.000 $0.000 $0.000 $0.000 Repeal of Repealing this deduction would increase revenues. exemption Potential ($ in millions): revenue gains FY 2024 FY 2025 FY 2026 FY 2027 from full repeal State Taxes $0.000 $0.062 $0.071 $0.074 Local Taxes $0.000 $0.000 $0.000 $0.000 Assumptions - This repeal takes effect July 1, 2024, and impacts 11 months of collections in fiscal year 2025. - Growth rate mirrors the service and other activities B&O taxable activity growth rate reflected in the Economic and Revenue Forecast Council's March 2023 forecast. Data Sources - Departmen