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Senate committee passes bill extending trade-in credit window for vehicle sales to 60 days
Summary
House Bill 1377, which extends from 45 to 60 days the period a seller can claim a vehicle/trailer sales-tax offset after selling (rather than trading) a vehicle, passed the Revenue & Tax Committee after DFA explained insurance-settlement corner cases may require further legislation.
The Senate Revenue & Tax Committee approved House Bill 1377, which increases the credit window for vehicle and trailer sales from 45 to 60 days.
Senator Blake Johnson said the change simply gives taxpayers an additional 15 days to use the sale of a vehicle or trailer to offset tax on a replacement purchase when the vehicle is sold rather than traded. "It gives…
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