Minnesota SF5113 modifies the motor vehicle registration tax by adjusting the percentage of the manufacturer's suggested retail price used for tax.

Minnesota SF5113 amends the motor vehicle registration tax by changing the percentage of the manufacturer's suggested retail price used for tax calculation. For vehicles registered before November 16, 2020, the tax is calculated as $10 plus 1.54 percent of the manufacturer's suggested retail price. For vehicles registered on or after November 16, 2020, the tax is $10 plus 1.575 percent of the manufacturer's suggested retail price. The bill also adjusts the tax percentages annually for the first ten years of a vehicle's life and sets a fixed amount for subsequent years.

Minnesota SF5113 modifies the motor vehicle registration tax by adjusting the percentage of the manufacturer's suggested retail price used for tax.

Minnesota SF5113 amends the motor vehicle registration tax by changing the percentage of the manufacturer's suggested retail price used for tax calculation. For vehicles registered before November 16, 2020, the tax is calculated as $10 plus 1.54 percent of the manufacturer's suggested retail price. For vehicles registered on or after November 16, 2020, the tax is $10 plus 1.575 percent of the manufacturer's suggested retail price. The bill also adjusts the tax percentages annually for the first ten years of a vehicle's life and sets a fixed amount for subsequent years.