HB 1981 - This act authorizes an tax credit, for all tax years beginning on or after January 1, 2008, which is equal to one hundred percent of the state sales tax paid on any new motor vehicle assembled and purchased in Missouri. 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 local sales tax by order or ordinance. The provisions of the act will expire December thirty-first six years from the effective date. JASON ZAMKUS
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