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2005 SESSION
HB 1552 Motor Vehicle Sales and Use Tax; reduction for motor vehicle trade-in.
Introduced by: Kenneth C. Alexander | all patrons ... notes | add to my profiles
SUMMARY AS INTRODUCED:
Sale price of motor vehicles subject to the motor vehicle sales and use tax; reduction for trade-in. Reduces the taxable price of a motor vehicle for purposes of determining motor vehicle sales and use tax liability by the value of any motor vehicle taken in trade. The amount of credit for a vehicle taken in trade is the lesser of the allowance given by the seller or the wholesale value of the vehicle as specified in a recognized pricing guide.
FULL TEXT
HISTORY
- 12/01/04 House: Prefiled & ordered printed; offered 01/12/05 053005208
- 12/01/04 House: Referred to Committee on Finance
- 01/12/05 House: Assigned to Finance sub-committee: #1
- 02/02/05 House: Tabled in Finance (22-Y 0-N)