Michigan vehicle buyers will get a tax break - New York News

Michigan vehicle buyers will get a tax break

Posted: Updated:
LANSING, Mich. (AP) -

Michigan residents who trade in their vehicle for a new one will get a tax break under a deal struck between lawmakers and Gov. Rick Snyder.

The Senate on Tuesday voted unanimously to phase out a requirement that buyers pay sales tax on the full price of a car or RV without subtracting the value of their trade-in. The House is expected to vote later in the day.

Starting in December, buyers would no longer pay the 6 percent sales tax on $2,000 or the value of their trade-in, whichever is less. Each year after, the value of the trade-in that would lower the tax bill would rise $500.

Michigan is among just six states to make car buyers pay sales tax on the full price without subtracting their trade-in.

  • Download the FOX 2 Apps


  • FOX 2 News Five-Day Forecast
  • Local NewsLocal NewsMore>>

  • Tyga calls for Empire State Building to go gold

    Tyga calls for Empire State Building to go gold

    Tuesday, August 19 2014 10:37 PM EDT2014-08-20 02:37:52 GMT
    The push to go gold for pediatric cancer has spread to the hip hop world. Popular rapper Tyga is joining those calling for the Empire State Building to light up for a good cause.
    The push to go gold for pediatric cancer has spread to the hip hop world. Popular rapper Tyga is joining those calling for the Empire State Building to light up for a good cause.
  • Christie talks casinos, Springsteen at town hall

    Christie talks casinos, Springsteen at town hall

    Tuesday, August 19 2014 9:49 PM EDT2014-08-20 01:49:34 GMT
    Gov. Chris Christie of New JerseyGov. Chris Christie of New Jersey
    Gov. Chris Christie talked Atlantic City casinos and defended his use of Bruce Springsteen music in the latest installment of his summer "No Pain, No Gain" town hall series on Tuesday. Many previous events have featured protests by retirees and labor groups as well as Atlantic City casino workers urging Christie to do more to save their jobs following a series of announced closures.
    Gov. Chris Christie talked Atlantic City casinos and defended his use of Bruce Springsteen music in the latest installment of his summer "No Pain, No Gain" town hall series on Tuesday. Many previous events have featured protests by retirees and labor groups as well as Atlantic City casino workers urging Christie to do more to save their jobs following a series of announced closures.
  • Foley wins Connecticut Independent Party backing

    Foley wins Connecticut Independent Party backing

    Tuesday, August 19 2014 9:35 PM EDT2014-08-20 01:35:03 GMT
    Republican gubernatorial candidate Tom Foley has won the endorsement of the Independent Party of Connecticut, securing a second spot on the November ballot. Foley's campaign confirmed the Greenwich businessman won the third party's endorsement at Tuesday night's party caucus.
    Republican gubernatorial candidate Tom Foley has won the endorsement of the Independent Party of Connecticut, securing a second spot on the November ballot. Foley's campaign confirmed the Greenwich businessman won the third party's endorsement at Tuesday night's party caucus.
Powered by WorldNow
Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | New Terms of Service What's new | Ad Choices