Missouri businesses are given a discount for paying their taxes on time.

State Auditor Susan Montee said the legislature should consider repealing the discount. According to Montee, the 2 percent discount businesses receive for paying their taxes on time cost Missouri $93 million in potential revenue in 2008.

Tracy King, Missouri Chamber of Commerce director of tax policy and fiscal affairs, said the repeal would amount to a tax increase and disproportionately affect small businesses. King said that tax collection costs small businesses more than 2 percent.

Three of the states bordering Missouri do not provide the same exemption for businesses, and four of the five others cap the amount of tax funds businesses can retain, according to Montee’s report.