Bill > S981

This bill amends the definition of "sales price" for the purpose of calculating sales and use tax on motor vehicles. Specifically, it excludes the value of a manufacturer rebate from the taxable sales price if that rebate is used at the time of the retail sale as a down payment or reduction to the price of the motor vehicle to which the rebate applies. A "manufacturer rebate" is defined as a cash payment made by the vehicle's manufacturer directly to the purchaser, not through a credit issuer, for the purchase of their vehicle from a retailer. This change aims to reduce the taxable amount for consumers purchasing new vehicles when they utilize manufacturer incentives.