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1997 SESSION

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SB 1053 Price of motor vehicle subject to sales and use tax.

Introduced by: W. Roscoe Reynolds | all patrons    ...    notes | add to my profiles

SUMMARY:

Sales price of motor vehicles subject to the motor vehicle sales and use tax. Reduces the taxable price of a motor vehicle for purposes of determining motor vehicle sales and use tax liability by the value of any motor vehicle taken in trade. The amount of credit for a traded-in vehicle is the lesser of the allowance given by the seller or the wholesale value of the vehicle as specified in a recognized pricing guide.


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