Rep. Mike Shirkey
A new state law will reduce the amount of sales tax you pay when you buy a new car and have a trade-in. The 6% sales tax will be calculated on the difference between the cost of the new car and your trade-in, instead of the full amount (currently the law). This tax break will be rolled out gradually. Starting in December the break is limited to $2000 or the trade-in value, whichever is less. But if you’re buying a boat, Rep. Mike Shirkey reports that there is a hidden gem in this law. Learn about this important provision by clicking here.
