JEFFERSON CITY, Mo. (AP) - Missouri senators have endorsed legislation that could make it cheaper to buy older cars.
The bill given first-round approval Tuesday would exempt decade-old cars with a price under $15,000 from sales taxes on the titling of the motor vehicle. Under the measure, a 2004 model bought in 2014 would be exempt from state and local sales taxes.
The measure is sponsored by Republican Sen. Mike Parson, of Bolivar (BAH’-luh-vur). Parson says vehicles in service for 10 years have already had taxes paid on them.
The bill needs a second affirmative vote in the Senate before moving to the House.
Old cars is SB 693
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