2005 Senate Bill 726

Vehicle trade-in “sales tax on the difference” only

Introduced in the Senate

Sept. 6, 2005

Introduced by Sen. Laura Toy (R-6)

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 Committee on Finance