SB 720 - This act requires financing entities that extend financing to cover state and local sales taxes owed on the purchase of a motor vehicle to remit the amount of such state and local sales taxes to the appropriate taxing authority on behalf of the purchaser. The financing entity and purchaser shall be jointly liable to the taxing authority for the amount of sales tax owed. This act is identical to HB 1873 (2022), SB 273 (2021), HB 235 (2021), HB 668 (2021), and HB 1598 (2020), is substantially similar to HB 2740 (2022) and HB 809 (2021), and is similar to HB 599 (2021) and HB 667 (2021).
JOSH NORBERG