SB103
Motor vehicle sales and use tax; exemptions for vehicle transfers, limited liability companies.
Summary
As Introduced. Motor vehicle sales and use tax; exemptions; transfers; limited liability companies.
Provides that no motor vehicle sales and use tax shall be imposed on vehicle transfers from (i) an individual, partnership, or limited liability company to a corporation or limited liability company or (ii) from a corporation or limited liability company to an individual, partnership, or limited liability company if (a) ... (More) the transfer is incidental to the formation, organization, or dissolution of a corporation or limited liability company in which the individual, partnership, or limited liability company holds the majority interest in both entities and (b) the transfer to a limited liability company is not a precursor to a transfer of control of the assets of the company to avoid motor vehicle sales and use taxes. (Less)-
Bill History
- 01/03/2024 - Senate: Prefiled and ordered printed; offered 01/10/24 24102676D
- 01/03/2024 - Senate: Referred to Committee on Finance and Appropriations
- 02/06/2024 - Senate: Passed by indefinitely in Finance and Appropriations (14-Y 1-N)