Standard Financial Information

From the 2024 DOR Tax Exemption Study

82.08.207; 82.12.207 - Standard Financial Information Description Qualifying international investment management service companies (IIMS) and their affiliates are exempt from sales and use taxes on the purchase or use of standard financial information. Standard financial information includes, but not limited to, financial market data, bond ratings, credit ratings, and deposit, loan, or mortgage reports. A buyer may claim a maximum exemption of $15 million in purchases per calendar year. The exemption expires July 1, 2031. Purpose To exempt standard financial information purchased by international investment management companies from sales and use taxes to improve industry competitiveness. Taxpayer ($ in millions): savings FY 2024 FY 2025 FY 2026 FY 2027 State Taxes CTI CTI CTI CTI Local Taxes CTI CTI CTI CTI Repeal of Repealing this exemption would increase revenues. exemption Potential ($ in millions): revenue gains FY 2024 FY 2025 FY 2026 FY 2027 from full repeal State Taxes $0.000 CTI CTI CTI Local Taxes $0.000 CTI CTI CTI Assumptions This exemption impacts fewer than three taxpayers; any impacts are confidential. Data Sources Department of Revenue, Excise tax data Additional Ad