Missouri has offered guidance to a re-seller of gift certificates that the sale of the gift certificate is not subject to sales tax as the certificate does not represent tangible goods or certain taxable services.
Sales tax is applied when the customer redeems the gift certificates for the goods or services from the issuing company. Even if the gift certificates were sold at below face-value, sales tax should be applied to the full face value of the certificate.
Barganier and Associates spends a good bit of time following developments relating to gift certificates and gift cards. So while the guidance out of Missouri is not strictly related to unclaimed property, it is important to many of our clients which do offer gift cards.