Reduces tax rate by 50 percent on sales and use of used motor vehicles.

This bill reduces by 50 percent the rate of sales and use tax on the sales of used passenger motor vehicles, motorcycles, motor homes, and off-road vehicles. The reduced tax rate will be 3.3125 percent of the receipt from a sale, and will apply to private sales, casual sales, or sales by motor vehicle dealers. Used motor vehicles subject to the reduced tax rate are commonly referred to as secondhand, and will include motor vehicles, the title to, or possession of which has been transferred from the person who first acquired it from the manufacturer or dealer.

Reduces tax rate by 50 percent on sales and use of used motor vehicles.

This bill reduces by 50 percent the rate of sales and use tax on the sales of used passenger motor vehicles, motorcycles, motor homes, and off-road vehicles. The reduced tax rate will be 3.3125 percent of the receipt from a sale, and will apply to private sales, casual sales, or sales by motor vehicle dealers. Used motor vehicles subject to the reduced tax rate are commonly referred to as secondhand, and will include motor vehicles, the title to, or possession of which has been transferred from the person who first acquired it from the manufacturer or dealer.