SEMA eNews Vol. 16, No. 12, March 21, 2013

New Virginia Law Benefits Vehicle Restoration Projects

By SEMA Washington, D.C., Staff

Legislation containing a SEMA-drafted amendment to totally exempt from the license tax all vehicles and parts cars stored on private property for the purpose of restoration or repair was signed into law by Governor Bob McDonnell. The license tax is applied to vehicles that do not display current license plates, even those 25 years old and older. Under the new law, the exemption for all cars, regardless of age, that are undergoing restoration (for as long a time period as the restoration work requires) represents a new benefit to car owners. Vehicles stored within a structure remain exempt from the tax. 

For details, contact Steve McDonald at stevem@sema.org.

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