NEW TAVT UPDATE
**HB 266 UPDATE 03-07-2013**
The State recently passed HB 266 which provides for some sweeping changes to the new TAVT tax and the regional T-SPLOST (Transportation Penny Tax)
Please read the following summary of the bill as provided by the Georgia Department of Revenue.
We heavily recommend that you read the entire summary for yourself, but to summarize how ths bill will likely affect you and your dealership, here are the key changes:
- Penalty for not paying moved from 10 to 30 days
- No more T-SPLOST on motor vehicle sales
- No more sales tax on lease payments if TAVT has been paid
- Rental vehicle definition raised from 10 passenger to 15 passengers
- TAVT to be based on ad valorem value
Here is the link to the summary of HB266: HB-266-Summary.3.7.13
