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initial bill of sale is that issued by the dealer to the | | initial purchaser of a new vehicle. |
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| | | For motor vehicles being registered pursuant to Title 29- | | A, section 405, subsection 1, paragraph C, the excise tax | | must be prorated for the number of months in the | | registration. |
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| | | This bill changes the method of computing the excise tax | | that is levied on motor vehicles and campers registered in the | | State. Current law requires, with the exception of commercial | | motor vehicles and special mobile equipment, that the excise | | tax be based upon the maker's list price for the motor | | vehicle; the excise tax on commercial motor vehicles and | | special mobile equipment is based on the purchase price. |
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| | | This bill requires that the excise tax for all motor | | vehicles and campers be based upon the purchase price of the | | vehicle. Either the original bill of sale or the state sales | | tax document may be used to certify the purchase price. The | | bill repeals the section of law dealing with the computation | | of excise taxes on commercial motor vehicles since all motor | | vehicles would be taxed in the same manner under this bill. |
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