Sunday, July 6, 2008
The General Assembly is now in session.
Tracking Virginia’s General Assembly
since 2007.
HB2466: Motor Vehicle Sales and Use Tax; basis and rate.
Chief Patron
Del.
Danny Marshall (R-14)
Danny Marshall
(R-14)
Danville, VA
Served: 2002–
Progress
 |
Introduced |
 |
Passed Committee |
|
Passed House |
|
Passed Senate |
|
Signed by Governor |
|
Became Law |
Status
Bill is Dead
Summary
Motor vehicle sales and use tax; basis and rate. Reduces the sale price for determining motor vehicle sales and use tax by (i) the credit given by the seller for any motor vehicle taken as a trade-in, and (ii) the amount of cash discount or rebate given by the seller or the manufacturer. The bill also caps the sale price on which the tax is computed at $70,000, and increases the motor vehicle sales and use tax rate from 3% to 3.5%.
View Full Text »
Poll Results
1 vote
