Josh Thomas
- Democratic
- Delegate
- District 21
Motor vehicle sales and use tax; exemptions;transfers; limited liability companies. Provides that no motor vehicle sales and use tax shall be imposed on vehicle transfers from(i) an individual, partnership, or limited liability company to acorporation or limited liability company or (ii) from a corporationor limited liability company to an individual, partnership, or limitedliability company if (a) the transfer is incidental to the formation,organization, or dissolution of a corporation or limited liabilitycompany in which the individual, partnership, or limited liabilitycompany holds the majority interest in both entities and (b) thetransfer to a limited liability company is not a precursor to a transferof control of the assets of the company to avoid motor vehicle salesand use taxes. Under current law,transfers from (1) an individual or partnership to a corporationor limited liability company or (2) from a corporation or limitedliability company to an individual or partnership are exempt fromthe motor vehicle sales and use tax if the transfer is incidentalto the formation, organization, or dissolution of a corporation orlimited liability company in which the individual or partnershipholds the majority interest.
Passed by indefinitely in Finance and Appropriations (15-Y 0-N)
Referred to Committee on Finance and Appropriations
Constitutional reading dispensed
VOTE: Block Vote Passage (99-Y 0-N)
Read third time and passed House BLOCK VOTE (99-Y 0-N)
Read second time and engrossed
Read first time
Reported from Finance (21-Y 0-N)
Subcommittee recommends reporting (8-Y 0-N)
Impact statement from DPB (HB339)
Assigned Finance sub: Subcommittee #1
Prefiled and ordered printed; offered 01/10/24 24102679D
Referred to Committee on Finance
Bill Text Versions | Format |
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Prefiled and ordered printed; offered 01/10/24 24102679D | PDF HTML |
Document | Format |
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Fiscal Impact Statement: HB339F122.PDF |
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