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Committee advances bill to close dealer loaner TAVT loophole, extends threshold to 45 days
Summary
A legislative committee voted to advance LC392504S, which raises the threshold for remitting full TAVT on dealer loaner vehicles from 30 days to 45 days to close an identified loophole; the motion passed after a brief presentation and the meeting was adjourned.
A legislative committee voted to advance bill LC392504S on a measure its presenter said would close a tax loophole for motor-vehicle dealers.
An unidentified member told the panel, "This is LC392504S," and said the bill changes the time window referenced under "9 13" from 30 days to 45 days so that dealer loaner vehicles held longer than that threshold are subject to remitting the full TAVT tax. The presenter described…
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