HB 4064
Relating to the rate of tax on motor vehicles
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- Passed House of Delegates
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill amends West Virginia’s motor vehicle tax law to include the exchange of used cars in the calculation of the tax owed. It increases the tax rate to six percent for new motor vehicle purchases starting July 1, 2017, and maintains the five percent rate for used car sales. The bill also clarifies definitions related to sales and motor vehicles, addresses out-of-state purchases, and outlines specific exemptions for various vehicle types and situations, such as military personnel, senior citizens, and urban mass transit authorities. Finally, it establishes a monthly tax on motor vehicle leases for West Virginia residents.
Key provisions
- Increases the motor vehicle sales tax rate to six percent for new vehicle purchases starting July 1, 2017.
- Allows for the deduction of the value of exchanged vehicles from the total sale price when calculating the tax on used car sales.
- Applies the motor vehicle sales tax to motor vehicles purchased out of state.
- Defines ‘sale’ and ‘motor vehicle’ for the purpose of the tax.
- Establishes exemptions for leased vehicles, certain military personnel, senior citizen service organizations, urban mass transit authorities, and other specific categories.
- Addresses the taxation of Class B trucks and Class C trailers registered at a gross weight of 55,000 pounds or more.
- Requires a notarized bill of sale for vehicle exchanges.
- Creates a monthly tax on motor vehicle leases for residents of West Virginia.
Who is affected
- Motor vehicle purchasers
- Vehicle dealers
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