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MS SB2063
Bill
AI Summary
- Exempts from 5% sales tax transfers of motor vehicle titles between a trustee and beneficiary of a trust, without actual consideration for the transfer
- Exempts transfers between a corporation and its shareholder in transactions qualifying for nonrecognition of gain or loss under Internal Revenue Code Section 351
- Exempts transfers between a partnership or limited liability company and its partners or owners
- Requires transfers claiming exemption to be evidenced by an affidavit prepared by the Department of Revenue and signed by the transferor
- Effective July 1, 2021
Legislative Description
Sales tax; exempt motor vehicle transfers to and from trusts, corporations, partnerships and limited liability companies.
Last Action
Died In Committee
2/24/2021
Committee Referrals
Finance1/5/2021
Full Bill Text
No bill text available