Vermont Increases Motor Vehicle Purchase and Use Tax Cap

Wednesday, July 6th, 2016

 
 
A car lot.
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Vermont
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The Vermont legislature has amended its code to increase the tax cap for sales and use of most motor vehicles.

Prior to July 1, 2016, tax was imposed on sales of motor vehicles at a rate of six percent or $1,850, whichever was less. Beginning July 1, 2016, the cap is increased to six percent or $2,075, whichever is less.

Pleasure cars, motorcycles, motor homes, and qualifying non-farm trucks are taxed at six percent of the total cost. The tax is not capped for these types of vehicles.

http://legislature.vermont.gov/assets/Documents/2016/Docs/ACTS/ACT159/ACT159%20As%20Enacted.pdf


About TTR

Transaction (buying or selling things), Tax (the tax on this activity), Resources (our people, our website, our support services) - TTR, Inc.

TTR has a website that companies subscribe to and use daily. This website provides a list of everything that can be bought or sold in the U.S. It provides simple answers to whether buying or selling these items is taxable (subject to a sales tax or other tax), and it provides all the legal authority to support these tax answers.

TTR likes to keep things simple and fun, which is why it has great people who provide help to clients on any support questions they have about transaction tax issues.

Please visit TTR on the web at www.ttrus.com or call 866.578.8193.

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