Summary of the Introduced Bill

HB 1981 -- Tax Credit for Certain Motor Vehicles

Sponsor:  Spreng

Beginning January 1, 2008, this bill authorizes a tax credit
equal to 100% of the state sales tax paid on any new motor
vehicle assembled and purchased in Missouri on or after that
date.  The tax credit may be claimed against a taxpayer's income
tax; corporate franchise tax; financial institutions tax; and
bridge, express, and public utility companies tax.  Any political
entity may exempt these sales from the local sales tax by order
or ordinance.

The provisions of the bill will expire December 31 six years from
the effective date.

Copyright (c) Missouri House of Representatives

Missouri House of Representatives
94th General Assembly, 2nd Regular Session
Last Updated October 15, 2008 at 3:11 pm