MS HB322

Expands the sales tax exemption under Mississippi Code Section 27-65-201 to include transfers of motor vehicles registered or licensed in both the transferor's name and a business entity solely owned by the transferor.

The exemption applies to transfers between husband and wife, parent and child, or grandparents and grandchildren, provided the transferor is not a licensed motor vehicle dealer or the transfer is not made in the regular course of business.

Maintains existing exemptions for motor vehicle transfers pursuant to wills or intestate succession, and for vehicles 10 or more years old.

Does not affect any tax claims, assessments, or legal actions related to sales taxes accrued before the bill's effective date.

Takes effect July 1, 2010.