An Act relative to the exemption of the sales or use tax for leased motor vehicles
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Overview
This bill proposes to exempt sales and use tax on leased motor vehicles in Massachusetts. Currently, leasing arrangements are subject to these taxes, which this bill seeks to eliminate. The goal is to reduce the cost of leasing vehicles for individuals and businesses. The bill has been referred to the Revenue Committee and has undergone several scheduling adjustments.
Key provisions
- Exempts sales and use tax on leased motor vehicles.
- Applies to leases of passenger cars, trucks, and vans.
- Does not apply to vehicles owned by the lessee.
- The bill was referred to the Revenue Committee for review.
- The bill has undergone several scheduling adjustments.
- The bill is similar to previous attempts to achieve this exemption.
- The bill is accompanied by a study order (H5313).
Who is affected
- Leaseholders of motor vehicles
- Businesses leasing motor vehicles
- Individuals leasing motor vehicles
- The Massachusetts Department of Revenue
- Motor vehicle dealerships
Notable changes
- This bill seeks to remove the existing sales and use tax on motor vehicle leases.
- It builds upon previous legislative efforts to achieve this exemption.
- The bill is currently under consideration by the Revenue Committee.
Bill text
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Sponsors
Official sponsors from legislative records.
3 on record
Primary sponsor
James Arciero
Cosponsors
Anthony Vacca
James Arciero
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