TAVT Rate Reduction and Retail Price for all Vehicles

HB 365 makes two significant changes to the TAVT statute. Firstly, the legislation changes the manner in which used cars are taxed, by requiring that all vehicles are taxed at retail price. The second change would be a reduction in the TAVT rate from 7% to 6.6% starting July 1, 2019 and sunsetting in June 30, 2023. 

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