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Senate Counsel, Research and Fiscal Analysis
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Minnesota Senate Bldg.
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95 University Avenue W. Suite 3300
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St. Paul, MN 55155
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(651) 296-4791
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Alexis C. Stangl
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Director
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Senate
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State of Minnesota
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S.F. No. 725 - Increased Price Threshold for Tax Treatment of Noncollector Vehicles
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Author:
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Senator Bill Weber
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Prepared By:
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Nora Pollock, Senate Counsel (651/297-8066)
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Date:
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February 13, 2017
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Under current law, purchase or use of a passenger automobile that is at least 10 years old and does not have a resale value of $3,000 or more as determined by a nationally recognized independent source is subject to $10 tax. This bill increases the threshold for the resale value to $5,000. Effective for sales and purchases on or after July 1, 2017.
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Check on the status of this bill
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Back to Senate Counsel and Research Bill Summaries page
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Last review or update: 02/13/2017
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