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St. Louis - The loophole is still open. If you live in Missouri and want to save hundreds of dollars on your next new car, you still have time, thanks, in part, to Governor Jay Nixon.
Back in March, Missouri state lawmakers discovered a loophole that the state Supreme Court opened that allows Missouri residents to avoid paying local sales tax by buying out of state.
Lawmakers fast-tracked a bill through the house this morning trying to close that loophole. They gave it to the governor, but he has not signed it. He released a statement saying the voters should have a say about reinstating a local tax. Until then, dealers in Illinois are benefiting.
The tax savings isn’t available to all Missouri drivers. Some counties charge what’s called a “use tax” for vehicles that are purchased out of state.
To find out whether you can benefit from the loophole, check out the tax tool here on the department of revenue’s website to see if you qualify.
We at Auto Solutions hope this helps!