Missouri lawmakers take up sales tax break for car trade-ins


New cars parking at dealership.

This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

JEFFERSON CITY, Mo. (AP) – Missouri lawmakers are returning to the Capitol to bring back a tax break for multiple vehicle trade-ins.

A special session on the issue began Monday.

Republican Gov. Mike Parson called lawmakers back to work this week after the Missouri Supreme Court in June ruled that state law only allows people to trade in one vehicle to get a discounted sales tax on the net cost of a new car.

Previously, revenue officials allowed people to subtract the value of multiple trade-in vehicles to reduce the sales tax owed.

It’s unclear how many people and businesses were impacted by the change.

Revenue Department spokeswoman Anne Marie Moy says that multi-vehicle trade-ins account for an estimated 6%-10% of the total trade-ins each year. That amounts to roughly 8,400-14,000 multi-vehicle trade-ins per year.

FOX 2 Newsletters

Sign up for a newsletter from FOX 2 to get updates about news and weather. We offer daily headlines, breaking news, severe weather, and forecast emails.


Latest News

More News