HB 1981 -- TAX CREDIT FOR CERTAIN MOTOR VEHICLES (Spreng)

COMMITTEE OF ORIGIN:  Special Committee on Job Creation and
Economic Development

Beginning January 1, 2008, this bill authorizes a tax credit
equal to 100% of the state sales tax paid on any new motor
vehicle assembled and purchased in Missouri on or after that
date.  The tax credit may be claimed against a taxpayer's income
tax; corporate franchise tax; financial institutions tax; or
bridge, express, and public utility companies tax.  Any political
entity may exempt these sales from the local sales tax by order
or ordinance.

The provisions of the bill will expire December 31 six years from
the effective date.

FISCAL NOTE:  Estimated Cost on General Revenue Fund of
$8,737,599 in FY 2009, $8,738,734 in FY 2010, and $8,739,760 in
FY 2011.  No impact on Other State Funds in FY 2009, FY 2010, and
FY 2011.

Missouri House of Representatives
94th General Assembly, 2nd Regular Session
Last Updated October 15, 2008 at 3:11 pm