Bill > SB00103

This bill proposes to modify the state's sales and use tax rates for motor vehicles by raising the price threshold for a higher tax rate and creating an exemption for commercial vehicles. Specifically, the bill would increase the sales price threshold for motor vehicles subject to a 7.75% sales and use tax rate to more than $75,000, meaning that vehicles priced below this amount would be taxed at a lower rate. Additionally, the bill would exempt commercial vehicles from this higher tax rate, regardless of their sales price. This change aims to provide tax relief for both individual consumers purchasing less expensive vehicles and businesses purchasing commercial vehicles by reducing their overall tax burden. The bill would amend Chapter 219 of the state's general statutes to implement these modifications to the motor vehicle sales and use tax structure.

Budget and Finance

https://www.cga.ct.gov/asp/cgabillstatus/cgabillstatus.asp?selBillType=Bill&bill_num=SB00103&which_year=2025