Introduced by Rep. Tom Pearce (R) on February 7, 2007, to exempt from sales tax the value of a trade-in on the purchase of a new motor vehicle. The buyer would only pay sales tax on the difference between the value of the trade-in vehicle and the purchase price of the new vehicle.
Referred to the House Tax Policy Committee on February 7, 2007.
1) 2007 House Bill 4230 (Vehicle trade-in “sales tax on the difference” only ) [by admin on January 1, 2001] Introduced in the House on February 7, 2007