MO HB2253

Repeals and reenacts section 144.025, RSMo, relating to sales and use tax computations on motor vehicle purchases.

Allows purchasers of motor vehicles or trailers used for agricultural purposes to offset sales and use tax liability by using grain or livestock produced or raised by the purchaser as an allowance.

Authorizes the Director of Revenue to prescribe forms for compliance with the agricultural use provision.

Maintains existing provisions allowing trade-in allowances and manufacturer rebates to reduce taxable purchase price for motor vehicles, trailers, boats, and outboard motors.

Extends trade-in credit eligibility to individual sellers if the buyer purchases a subsequent vehicle within 180 days before or after the original sale, with documentation requirements.