Motor Vehicle Sales and Use Tax; basis and rate. (HB2466)

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 3.5%. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/09/2007Committee
01/09/2007Prefiled and ordered printed; offered 01/10/07 071913392
01/09/2007Referred to Committee on Finance
01/18/2007Assigned Finance sub: #1 (Orrock)
01/26/2007Impact statement from DPB (HB2466)