ALEXANDRIA, VA - A Truck Renting and Leasing Association (TRALA)-sponsored provision to exempt trucks greater than 10,000 lbs. from a new accelerated lease tax for motor vehicles was approved as part of House File 138 by the Minnesota legislature and signed by Gov. Tim Pawlenty (R-MN) on July 13. The truck exemption was originally proposed by TRALA in 2004 when Gov. Pawlenty initiated the effort to accelerate tax payments on all motor vehicle leases. Though that proposal died in 2004, the legislature renewed the effort to require the upfront payment of motor vehicle lease taxes this year. Both the accelerated lease tax requirement and truck exemption were included in the omnibus tax bill.

Originally posted on Fleet Financials