Trucking news and briefs for Friday, Dec. 1, 2023:
The Massachusetts legislature has proposed bills that would bring the state in line with 37 other states that have no sales tax or use tax on “rolling stock,” which includes trucks, trailers, and parts for their operation.
Using a rolling stock tax exemption, truck owners in certain states can save when buying equipment and parts.
The list compiled at this link by the American Transportation Research Institute shows where exemptions are in place for parts and equipment, current as of 2018. Take note of the text at the bottom for explanations of the dollar figures in the chart, based on a hypothetical truck and trailer purchase.
According to ATRI’s chart, a truck buyer in Massachusetts paying $145,000 for a tractor-trailer combination would pay $2,266 in sales tax on the equipment, along with $375 in sales tax on an assumed $6,000 worth of parts each year, including tires.
If the Massachusetts bills were to pass and be signed into law, the owner in the above scenario would be exempt from paying those taxes.
The Specialized Carrier & Rigging Association has voiced its support for the bills in both the Massachusetts House and Senate. “The rolling stock initiative will help bring safer, cleaner commercial vehicles to the Commonwealth while also supporting the growth of the specialized transportation, crane, and rigging industries in the state.”
