SB0132 - Tennessee: Military, Motor Vehicles, Taxes, Sales

Companion Bill HB0042. Taxes, Sales - Extends sales tax exemption for motor vehicles purchased by certain members of the military to active duty armed force member whose home is Tennessee and who resided in the state at least five consecutive years prior to military service. - Amends TCA Section 67-6-303. Fiscal Summary for SB0132 / *HB0042Decrease State Revenues - $5,785,000 Decrease Local Govt. Revenues - Net Impact - $456,000 Bill Summary for SB0132 / *HB0042 This bill extends the present law sales tax exemption on motor vehicles for certain persons serving in the armed forces. Present law provides a sales tax exemption for motor vehicles sold to the following persons, if the motor vehicle is sold and registered in this state: (1) A reserve member of a uniformed service of the United States or member of the Tennessee national [...]

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