Motor Vehicle Sales and Use Tax; reduces the sale price for determining the rate thereof. (HB5040)
Introduced By
Del. Danny Marshall (R-Danville)
Progress
✓ |
Introduced |
✗ |
Passed Committee |
☐ |
Passed House |
☐ |
Passed Senate |
☐ |
Signed by Governor |
☐ |
Became Law |
Description
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 increases the motor vehicle sales and use tax rate from 3% to 4.5%. Read the Bill »
Outcome
Bill Has Failed
History
Date | Action |
---|---|
09/13/2006 | Presented and ordered printed 061860392 |
09/13/2006 | Referred to Committee on Finance |
09/25/2006 | Fiscal impact statement from DPB (HB5040) |
09/28/2006 | Left in Finance |