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

DateAction
09/13/2006Presented and ordered printed 061860392
09/13/2006Referred to Committee on Finance
09/25/2006Fiscal impact statement from DPB (HB5040)
09/28/2006Left in Finance