Mo. Senate Endorses Tax Exemption for Older Cars

4 years 6 months 3 weeks ago Wednesday, March 26 2014 Mar 26, 2014 Wednesday, March 26, 2014 4:20:57 AM CDT March 26, 2014 in News
By: The Associated Press

JEFFERSON CITY (AP) - Missouri senators have endorsed legislation that could make it cheaper to buy older cars.

The bill given first-round approval Tuesday would exempt decade-old cars with a price under $15,000 from sales taxes on the titling of the motor vehicle. Under the measure, a 2004 model bought in 2014 would be exempt from state and local sales taxes.

The measure is sponsored by Republican Sen. Mike Parson, of Bolivar. Parson says vehicles in service for 10 years have already had taxes paid on them.

The bill needs a second affirmative vote in the Senate before moving to the House.

 

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