SB 1 - For the purpose of calculating sales or use tax owed, current law provides that when a taxpayer purchases or contracts to purchase a motor vehicle, trailer, boat, or outboard motor (vehicle) within 180 days before or after the taxpayer sells a previously owned vehicle, the taxpayer may deduct from the purchase price of the new vehicle the amount the taxpayer received from the sale of a single previously owned vehicle. This act modifies such allowance by allowing a taxpayer to deduct from the purchase price of the new vehicle the amount received by the taxpayer from all sales of previously owned vehicles, provided such sales occurred within 180 days before or after the purchase of the new vehicle.
JOSHUA NORBERG