Mo. Senate endorses tax exemption for older cars

(JEFFERSON CITY, Mo., 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.

Posted by on March 26, 2014. Filed under Missouri News. You can follow any responses to this entry through the RSS 2.0. You can skip to the end and leave a response. Pinging is currently not allowed.

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