HB 703 -- Motor Vehicle and Boat Dealers

Sponsor:  Jones (89)

Beginning January 1, 2012, this bill allows motor vehicle and
boat dealers to act as fee agents for the Department of Revenue
to register and license motor vehicles and trailers; to title and
register boats, vessels, and outboard motors; and to collect
sales and use taxes on motor vehicles and boats at the time of
the initial sale or lease.  Any dealer who elects to collect the
sales and use tax must file a return and remit the tax collected,
less a 2% timely filing deduction, to the Department of Revenue.
Penalties will be imposed for late filing, and the department can
electronically survey all motor vehicle dealer accounts to
determine if payments have been timely remitted.  The sales tax
imposed on a used vehicle, trailer, boat, or motor will be at
least 80% of the average trade-in value as determined by the
current volume of the National Automobile Dealers Association's
Official Used Car Guide, Central Edition, regardless of the
purchase price.

Missouri House of Representatives
95th General Assembly, 1st Regular Session
Last Updated November 17, 2009 at 9:25 am