Motor Vehicle Sales and Use Tax; basis and rate. (HB2467)
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 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 4%. Read the Bill »
Outcome
Bill Has Failed
History
Date | Action |
---|---|
01/09/2007 | Committee |
01/09/2007 | Prefiled and ordered printed; offered 01/10/07 071912392 |
01/09/2007 | Referred to Committee on Finance |
01/18/2007 | Assigned Finance sub: #1 (Orrock) |
01/26/2007 | Impact statement from DPB (HB2467) |