Governor Parson signs special session bill into law
Governor Mike Parson has signed HB 1 into law. This bill will allow the sales proceeds of more than one vehicle to be used as a credit against the sales tax owed on the purchase of a new vehicle.
The bill had majority support from the Missouri House of Representatives and the full support of the Missouri Senate during the recently completed special legislative session.
Governor Michael L. Parson
“We’re thankful for the overwhelming bipartisan support of the legislature to address and correct this issue,” Governor Parson said. “Our administration will always do what is right for the hardworking people of our state, and at the end of the day, that’s what this was all about.”
Previous recent reports estimated the cost of the special session alone at $71,000. This year’s veto session cost approximately $44,000, and the special session cost approximately $42,000, according to a statement released by Governor Parson’s office.
“We were happy to support this bill that ensures taxpayers only pay the tax on the final difference in price between items they have sold and purchased,” said Ray McCarty, president and CEO of Associated Industries of Missouri.