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1996 SESSION

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SB 631 Personal property tax on interstate commerce motor carriers.

Introduced by: Charles L. Waddell | all patrons    ...    notes | add to my profiles

SUMMARY:

Classification of motor carrier transportation property for taxation. Clarifies the definition of motor carrier transportation property that constitutes a separate class of property for local tangible personal property taxation. Only motor vehicles, trailers, and semitrailers with a gross vehicle weight of 10,000 pounds or more used to transport property for hire by a motor carrier engaged in interstate commerce will qualify for this classification. The rate of tangible personal property tax on items in this class cannot exceed the machinery and tools tax rate.


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