Goodwill received from the sale of a franchised auto dealership

From the 2024 DOR Tax Exemption Study

82.87.050(9) - Goodwill received from the sale of a franchised auto dealership Description The capital gains tax does not apply to goodwill received from the sale of a franchised auto dealership. Purpose To provide a tax preference for auto dealers. Taxpayer ($ in millions): savings FY 2024 FY 2025 FY 2026 FY 2027 State Taxes CTI CTI CTI CTI Local Taxes $0.000 $0.000 $0.000 $0.000 Repeal of Repealing this exemption would increase revenues. exemption Potential ($ in millions): revenue gains FY 2024 FY 2025 FY 2026 FY 2027 from full repeal State Taxes $0.000 CTI CTI CTI Local Taxes $0.000 $0.000 $0.000 $0.000 Assumptions - This exemption impacts fewer than five taxpayers; any impacts are confidential. Data Sources - Department of Revenue, Excise tax data - Economic and Revenue Forecast Council, March 2023 forecast - Internal Revenue Service (2022), Publication 6149 calendar year return projections by state: 2021–2028 Additional Additional Information Information Category: Individuals Year Enacted: 2021 Primary Beneficiaries: Individuals with capital gains from the sales of auto dealerships Taxpayer Count: Fewer than five Program Inconsistency: None evident JLARC Review: No review com