Vehicle Sales Tax Deduction Expanded by Missouri Legislature

The Missouri Legislature approved a change in the state’s sales tax law to expand a deduction for buyers of cars or boats who have sold vehicles in the previous 180 days.

Under current law, taxpayers may use the value of a single previously owned vehicle as a deduction against the price of a newly purchased vehicle in calculating their sales tax owed. The bill, H.B. 1, allows taxpayers to use the value of multiple vehicles sold within the previous 180 days as a deduction against the price of the newly purchased vehicle.

• The bill, approved Sept. 13, was in ...