SB00057

Increases the sales price threshold for motor vehicles subject to a higher sales and use tax rate and indexes it for inflation.

This bill amends chapter 219 of the general statutes to raise the sales price threshold for motor vehicles subject to a seven and three-fourths percent sales and use tax rate to more than sixty-five thousand dollars. Additionally, it mandates that this sales price threshold be indexed to reflect the rate of inflation. This change affects the tax rate applied to motor vehicles sold above the new threshold.