SEMA is supporting Nevada legislation to repeal a 2009 increase in the valuation of older vehicles for the purpose of assessing the yearly government services tax. The 2009 increase raised the tax assessment from 5% to 15% of the initial value of a vehicle nine years old and older. A.B. 343 changes the yearly assessment rate back to 5% of the initial value. The bill has been referred to the Assembly Taxation Committee for consideration.
Nevada Introduces Bill to Repeal Increase of Government Service Tax for Older Vehicles
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