2 LAWS GOVERNING AUTO INDUSTRY Two of the main chapters of the Nevada Revised Statutes and Nevada Administrative Code discussed today are: Chapter 372: Sales and Use Taxes Chapter 482: Motor Vehicles and Trailers: Licensing, Registration, Sales and Leases Also referenced will be chapter 374, Local School Support Tax
3 AUTOMOBILE INDUSTRY The Department of Taxation administers the sales/use tax laws and regulations while the Department of Motor Vehicles (DMV) administers laws and regulations governing the licensing, selling, titling and other related issues involving vehicles which are required to be licensed to drive on a public highway (NRS )
4 AUTOMOBILE INDUSTRY The Department of Taxation looks to some of the definitions contained in NRS Chapter 482 for guidance in making determinations of taxability.
5 Automobile Industry Some useful sources of information can be found at: DMV main website: DMV Registration/Title Guide: Department of Taxation: Statutes and Nevada Administrative Code at
6 Sales/Use Tax References Statutes a/k/a NRS Regulations a/k/a NAC Publications Tax Notes Technical Bulletins Other FAQs For sales and use tax, references are to Chapters 372, 374, 360 and 360b; reference is also made to NRS chapter 482
8 SALES TAX Sales tax is due on the sale for retail of Tangible Personal Property which may be: Seen Weighed Measured Felt Touched or is In any other manner perceptible to the senses. The sales of all tangible personal property is taxable unless specifically exempted by statute NRS 360B.095
9 SALES NRS 360B.480 and NRS are the primary statutes describing what is included in gross receipts and what is not. Included All receipts, cash, property Manufacturer s discounts, or rebates Mandatory warranties Services that are part of the sale or necessary to complete the sale (Doc fees)
10 SALES NRS 360B.480 and NRS are the primary statutes describing what is included in gross receipts and what is not. Excluded Discounts offered by the seller Unwinds Labor charges when separately stated Trade-in of used vehicle / vessel* * Vessels are subject to partial tax credit
11 TAXABLE SALES Sales to students are generally taxable Sales to Native Americans are taxable unless the vehicle is delivered to the reservation. Sales to persons in the military and who are stationed in Nevada are considered residents and subject to Nevada tax. If the military person has papers verifying immediate deployment, a drive away affidavit can be issued. Maintenance Contracts: If the contract is negotiated at the time of the sale, it is considered part of the taxable sale. Optional warranty contracts are not subject to tax at the time of the sale and sales or use tax is due on any parts included in the warranty at the time of repair.
12 Sales to Military personnel are generally subject to sales tax. Occasionally a dealer may get this Active Duty Military Governmental Services Tax Exemption Affidavit. NOTE THAT THIS FORM DOES NOT EXEMPT THE TRANSACTION FROM SALES TAX..it only exempts the Governmental Services tax. TAXABLE SALES - MILITARY NOTE: This exemption applies ONLY to members of the Military, and not the members of the Nevada National Guard.
13 TAXABLE SALES Snowbirds is a term often associated with people who move from colder climates and migrate southward in winter months to warmer locales such as Nevada, Arizona, etc. Sales to this group are generally taxable if they have a residence here Rebates: Rebates do not affect the sales tax on the selling price of a vehicle. Instead, the rebate can be used as a reduction in the amount the customer will owe at completion of the transaction. After-Market Warranty Repair: The parts included in an After- Market Warranty repair sold separately from the vehicle sale, are subject to tax. Since this type of transaction is not part of the original manufacturer s warranty, the sale is considered a separate transaction and is subject to sales or use tax. If the parts are shown separately, then only those tangible parts are subject to sales or use tax. If the parts are not shown separately, the transaction is considered bundled and the entire transaction is subject to the tax. (NAC )
14 TAXABLE SALES Theft Deterrent Systems: Car alarms are subject to the sales tax. Examples include DataDot, Karr Alarm. Application of product to protect vehicle exterior and interior: Applying a special product to a car to protect it from wear and tear is subject to tax. Any service required as part of the sale is subject to sales tax. This also includes any service that is necessary to complete the sale. (NRS , NRS 360B.480)
15 TAXABLE SALES Vehicle Give-aways: When a dealership enters into an agreement with a casino to display their vehicles in a contest program developed by the casino, the Department considers the transaction to be between the dealership and the casino. The casino is allowed to pass on its tax burden to the contest winner provided the contest rules have been posted.
16 TAXABLE SALES Vehicle Give-aways(continued) For example, if a California resident wins a vehicle that they get from a Nevada dealership, the sale is considered taxable since the Casino purchased the vehicle. The sales tax is either paid by the casino, or the contest winner (if rules were posted). No drive-away exemption is allowed for this type of transaction. Any upgrades required by the contest winner that is outside the agreement is subject to tax to the winner.
17 TAXABLE SALES Tire Sales (sold separately from vehicle sale) Smog fees (if sold in conjunction with vehicle sale) Doc(ument) fees Parts Sales (unless for resale) Shop Supplies (minor parts such as nuts and bolts that are included in the repair of a vehicle.)
18 UNWINDS vs REPOS When a customer returns a vehicle and cancels the sale, the transaction is referred to as an Unwind. In this transaction, to cancel the sale, the dealership must make the customer whole. In other words, restore the customer to his/her position prior to the unwind. A reasonable restocking fee may be charged. If the trade-in vehicle is no longer in the dealership s inventory, then the value of the trade-in given before the unwind is the value needed to make the customer whole. If the vehicle was repossessed, there is no refund of the sales tax charged on the original deal. However, the provisions of NRS , Deduction of certain bad debts from taxable sales may apply.
19 This form should be in the deal file whenever a repossession occurs. Note this form also includes a notary section.
20 COURTESY DELIVERIES The sale price of any vehicle delivered in this state by a registered retailer who is providing a courtesy delivery on behalf of an unregistered out-of-state seller should be included in the gross receipts of the delivering retailer. Exceptions include: The customer is a retailer and informs the delivering retailer. In this instance, a resale certificate should be issued by the customer. The customer informs the delivering retailer that they are an out of state resident and vehicle will be removed within 15 days. Drive-away Affidavits and permits need to be executed in this instance.
21 DIFFERENT COUNTY SALES Sales to residents of another county Any sale in one county is subject to that county s sales tax rate regardless of the fact that the purchaser is a resident of another county. Where the sale takes place determines the rate of taxation. For instance, A customer lives in Nye County, but purchases a vehicle in Las Vegas (Clark County). Clark County tax must be charged on the sale.
22 ABSORPTION OF TAX Taxpayers CANNOT advertise they will pay the sales tax (NRS ) Taxpayers CAN state that sales tax is included. (NAC ) If there is no such statement on the invoice or a sign that states that sales tax is included, then the sale is subject to taxation on the entire amount or portion that is separated out relating to tangible personal property (NAC
23 TRADE - INS
24 TRADE-IN ISSUES Trade in of a vessel towards the purchase of a vehicle You can take a trade-in of a vessel towards the purchase of a vehicle; HOWEVER, the tax trade-in credit is the county tax rate MINUS 2%. Whenever a vessel is involved, you must use the Supplemental Trade-In form provided by the Department of Taxation.
25 Form to use when a vessel is involved in the trade in or trade down
26 TRADE-IN ISSUES Trade in of a vehicle towards the purchase of a boat (vessel) You can take a trade-in of a vehicle towards the purchase of a boat. The trade-in tax credit is the full county tax rate. Trade-ins are to be reported as an exempt sale in Column B of the sales tax return. The supplemental form is no longer necessary when only vehicles are involved.
27 TRADE-IN ISSUES Trade-in tax credit on vehicle not purchased in Nevada: Attorney General s Opinion #92-15 clarifies that the trade-in tax credit is available for any vehicle being traded in, regardless of where the trade-in vehicle was purchased. A trade-in allowance would be available to reduce the sales price of an out-of-state purchase of a vehicle by the corresponding value of the trade-in, in order to reduce the applicable tax liability. There are no restrictions in NRS , NRS and NRS , thus allowing the trade-in tax credit for vehicles purchased out of state.
28 TRADE-IN ISSUES Trade-downs: When a customer trades in a vehicle/vessel that is given a trade-in credit which is higher than the selling price of the new vehicle/vessel, the trade-in tax credit cannot exceed the tax of the selling price of the new vehicle/vessel. Trade-downs of Vessels are subject to 2% tax on the selling price of the new vessel.
29 TRADE-IN ISSUES Negative equity: When debt on a trade-in is higher than the value given to the customer for the trade-in vehicle/vessel, a negative equity is created. Negative equity cannot affect the tax on the selling price of the new vehicle/vessel, but should be shown as an increase in the new debt the customer will owe. Likewise, the gross value (before applying the debt owed) is the value upon which the trade-in tax credit is based.
31 LEASE DEFINITIONS Residual Value lease The estimated fair market value of the vehicle at the end of the Capitalized Cost The value agreed upon of the vehicle to be leased, including add-on costs, admin fees, prior lease balance, etc. Capitalized Cost Reduction The amount of any net trade-in allowance, rebate, etc. that is used to reduce the amount to be leased.
32 LONG TERM VEHICLE LEASES A long term lease is for a period over 31 days (NRS ) Information on the lease: Value of leased vehicle How payment at inception is disbursed Estimated value at end of lease Purchase option
33 TAXABLE ITEMS IN A LEASE Monthly payments First payment paid to dealership Doc fees showing on lease Smog Fees showing on lease Capitalized Cost Reduction
34 Example of completed vehicle lease AMOUNT DUE AT LEASE SIGNING OR DELIVERY $10, MONTHLY PAYMENTS A. Your first Monthly Payment of $ is due on the Lease Date, followed by 62 payments of $ due on the 1 st of each month. B. The total of your Monthly Payments is $40, A. Amount Due at Lease Signing or Delivery: (1) Capitalized Cost Reduction $ (2) Sales/Use Tax on Capitalized Cost Reduction $ (3) First Monthly Payment $ (4) Refundable Security Deposit N/A (5) Initial Title, Registration and License Fees $ (6) Upfront Sales/Use Tax on Vehicle $ N/A (7) Doc Fee $ Total $ OTHER CHARGES (not part of your Monthly Payment) A. Termination Fee $ (If you do not Purchase the Vehicle) TOTAL OF PAYMENTS (The amount you will have paid by the end of the lease). $50, ITEMIZATION OF AMOUNT DUE AT LEASE SIGNING OR DELIVERY B. How the Amount Due at Lease Signing Or Delivery will be Paid: (1) Net Trade-in Allowance $ (2) Rebates and noncash credits $ (3) Amount to be paid in Cash $ Total $ YOUR MONTHLY PAYMENT IS DETERMINED AS SHOWN BELOW A. Gross Capitalized Cost. The agreed upon value of the Vehicle ($50,999.26) and any items you pay over the Lease Term (such as service contracts, insurance, and any outstanding prior credit or lease balance..$ 51, B. Capitalized Cost Reduction. The amount of any Net Trade-in Allowance, rebate, noncash credit, or cash You pay that reduces the Gross Capitalized Cost.$ 8, C. Adjusted Capitalized Cost. The amount used in calculating your Base Monthly Payment $43, D. Residual Value. The value of the Vehicle at the end of the Lease used in calculating your Base Monthly Payment $11, Please note that this is only a partial example of a completed lease
35 EXEMPT SALES
36 EXEMPT SALES NRS 360B.480 and NRS , - what is not included: Dealer issued discounts Drive-away permit costs Title fees, Registration fees Optional Warranties, service only warranties Out of state sales Sales to border state employees
37 EXEMPT SALES Sales to exempt entities Government (U.S. or Nevada) Religious* Charitable* Educational* Nevada National Guard* Sales to residents of other states ** Sales for resale * Must have department-issued exemption letter on file ** Must have completed Affidavit of Purchaser,drive-away permit and supporting documentation *** Must have resale certificates on file
38 DRIVE-AWAY SALES If purchaser provides the documentation to prove they will use the vehicle out of state, they have 15 days to remove the vehicle to their home state. Such documentation may include, but not limited to: out of state driver s license out of state insurance document Note: if the purchaser has a residence in both Nevada AND another state, the sale is subject to tax. Reciprocity does not affect the transaction.
39 This is the drive away affidavit. It must be completed in full and customer s signature must be notarized at time of sale.
40 DRIVE-AWAY SALES Vehicles being purchased in Nevada for use in other states that do not have a sales tax, such as Montana, Oregon, Alaska, etc. are scrutinized carefully in the course of an audit and should be monitored carefully. If the sale is to a resident of another state, and evidence supports that, do not charge sales tax as the customer qualifies for a drive-away. All proof of residency out of state must be in the deal file.
41 Nevada residents are not allowed Driveaway permits Beware of Drive-away permits to these states Oregon Montana Delaware Alaska New Hampshire
42 USE TAX
43 USE TAX What is Use Tax? Use Tax is a mirror of the sales tax, same rate. The tax is meant to even the competitive advantage that out of state vendors have when selling a product without tax, when a Nevada vendor must charge the tax. The tax is due on all tangible personal property brought into this state, for storage, use or other consumption in this state, and where Nevada sales tax has not been charged. The use of inventory for resale may be subject to the use tax depending on the circumstances. (see Loaner-Demonstration vehicle usage ). Giving away an item meant for resale is subject to use tax at the cost of the item being given away.
44 USE TAX Any tangible personal property purchased for use in the business is subject to sales/use tax. If the vendor did not charge the tax on the sale, then use tax must be accrued and reported to the Department on the cost of the property. Sales tax should be paid to your vendor or use tax accrued on supplies used in the repair of vehicles on purchases of tangible personal property that are not incorporated into the vehicle. Such supplies include cleaning rags, masking tape, gloves, glass cleaner, paint and any other items of a similar nature. If purchased from a Nevada vendor, sales tax must be paid. Otherwise, use tax must be accrued and paid on the purchase. Any parts that are incorporated into the vehicle such as grease, nuts and bolts, are considered to be sold to the customer which is then taxed to the customer.
45 USE TAX An example of when use tax is due Giveaway items Self-use items purchased without tax Internet purchases for self use where Nevada tax has not been charged Vehicles placed in service for use by dealership Parts for company vehicles
46 USE TAX - REPLACEMENT PARTS Sales and Use Taxes do not apply to the purchase of replacement parts if the repairs are pursuant to the provisions of a warranty or guaranty if the warranty or guaranty was originally taxed as part of a sale NAC (1)
47 USE TAX Loaner demonstration vehicle usage prior to 10/24/2014: NRS defines use or other consumption as subject to use tax. Under this statute, vehicles taken out of the inventory of a vehicle dealer under the provisions of NRS and NRS were subject to use tax on the cost of the vehicle when used for self-use. For instance, if a vehicle is used with loaner plates for a customer to drive while their vehicle is being repaired, the cost of the vehicle so used was subject to use tax. If a representative of the automobile dealership used a car with dealer plates or loaner plates for personal use the cost of the vehicle was subject to use tax.
48 USE TAX Loaner demonstration vehicle usage: Effective 10/24/2014, a new regulation (R129-13) was approved by the Nevada Tax Commission governing the use of loaner/demonstration vehicles. If the cumulative period of all the loans of the motor vehicle by the dealer is more than 180 days, the usage will be subject to tax at the cost of the vehicle to the dealer. A written record must be maintained by the dealer and available upon request showing the usage of the loaned vehicle. Absence of such a log could subject the vehicle to tax.
51 TIRE TAX Tire tax is $1 per tire. (NRS 444A.090 ) (note: this does not apply to the tires that are on the vehicle being sold) When a dealership purchases tires for its vehicles in inventory, a resale certificate should be provided to the tire retailer. If the dealership is purchasing new tires for their vehicles placed in service for use in the business, or for personal vehicles, the tire tax should be paid. If the dealership is in the business of selling tires, it must register for the tire tax
52 RECIPROCITY If a vehicle has substantial use in another state and is subsequently moved to Nevada, there is no further tax due. If a vehicle was recently purchased in another state, and that state s tax was charged, and the vehicle is then moved to Nevada, the difference between the other state s tax rate and Nevada s (providing the other state s is less than Nevada) will be due to Nevada. If the tax in the other state is higher than Nevada s, then no further tax is due.
53 Electronic Filing Requirements All payments of money for taxes, interest, penalties or other obligations in the aggregate amount to $10,000 or more MUST be made by electronic transfer.* For more information and to register and pay your taxes, go to: *NRS
54 RECORDS TO BE KEPT Purchase invoices Sales journals General ledgers Deal files Affidavits and Drive away permits Must keep records for four (4) years
55 WRITTEN RESPONSE Most tax issues can be addressed by the Department of Taxation. Please be advised that any responses to inquires made to the Department are only binding if put in writing, such as Nevada Revised Statutes, Administrative Code, Nevada Tax Notes, or in written correspondence.
56 DEPARTMENT OF TAXATION Contact Information Our offices are open Monday-Friday 8:00 AM 5:00 PM Contact our Call Center at Southern Nevada: Grant Sawyer Office Building 555 E. Washington Avenue Suite 1300 Las Vegas, NV OR 2550 Paseo Verde Parkway Suite 180 Henderson, NV Carson City: 1550 College Parkway Suite 115 Carson City, NV Reno: 4600 Kietzke Lane Building L, Suite 235 Reno, NV 89502
INFORMATION BULLETIN #28WC SALES TAX AUGUST 2008 (replaces Information Bulletin #28WC, dated May, 2007) DISCLAIMER: SUBJECT: Informational bulletins are intended to provide nontechnical assistance to the
N E V A D A D E P A R T M E N T O F T A X A T I O N NEVADA TAX NOTES Official Newsletter of the Department of Taxation OCTOBER 2012 h t t p : / /www.t a x. s t a t e. n v. u s ISSUE NO. 180 Register, File
INFORMATION BULLETIN #28S SALES TAX APRIL 2012 (Replaces Information Bulletin #28S dated October 2011) DISCLAIMER: SUBJECT: EFFECTIVE: Information bulletins are intended to provide nontechnical assistance
SALES AND USE TAX GUIDE FOR AUTOMOBILE AND TRUCK DEALERS 2016 EDITION (THROUGH THE 2015 SESSION OF THE GENERAL ASSEMBLY) SOUTH CAROLINA DEPARTMENT OF REVENUE OFFICE OF GENERAL COUNSEL/POLICY SECTION Nikki
JOAN WAGNON, SECRETARY DEPARTMENT OF REVENUE POLICY AND RESEARCH MARK PARKINSON, GOVERNOR DEPARTMENT OF REVENUE POLICY AND RESEARCH Sales Tax Guidelines: How Kansas Motor Vehicle Dealers and Leasing Companies
BULLETIN NO. 013 Issued March 2003 Revised July 2013 THE RETAIL SALES TAX ACT OFF-ROAD VEHICLE AND BOAT DEALERS This bulletin provides information to help off-road vehicle and boat dealers apply the Retail
GEORGIA DEPARTMENT OF REVENUE TAX GUIDE FOR MOTOR VEHICLE DEALERS Department of Revenue - Motor Vehicle Division 4125 Welcome All Road Atlanta, Georgia 30349 Revised: June 14, 2013 EDITOR S NOTE The purpose
The State Board of Equalization Welcomes You to the Basic Sales and Use Tax Seminar Welcome to the California State Board of Equalization s presentation on Basic Sales and Use Tax. 1 About This Presentation
Minnesota Department of Public Safety Driver and Vehicle Services 445 Minnesota Street Saint Paul, Minnesota 55101 Motor Vehicle General Information for Dealers Transfer Guide November 2012 TABLE OF CONTENTS
Streamlined Sales and Use Tax The information in this publication has not yet been updated to reflect changes effective October 1, 2005, resulting from the Streamlined Sales and Use Tax legislation (P.L.
NEVADA DEPARTMENT OF TAXATION NEVADA TAX NOTES Official Newsletter of the Department of Taxation JULY 2010 h t t p : / / t a x. s t a t e. n v. u s ISSUE NO. 171 DEPARTMENT OF TAXATION OFFICES CALL CENTER
INFORMATION BULLETIN #2 SALES TAX MARCH 2013 (Replaces Bulletin #2 dated January 2013) Effective Date: 1 March 2013 SUBJECT: Original Manufacturer Warranties, Optional Maintenance Contracts, and Optional
Guideline Sales Tax Licensed Motor Vehicle Dealers Cory Fong May 2009 Tax Commissioner Motor Vehicle Excise Tax Motor Vehicles Defined The gross receipts from sales of motor vehicles required to be titled
GT-400400 R. 07/12 Tax Information for Motor Vehicle Dealers This publication was designed to be used as a training aid. It should not be used as a reference to cite the Department s position. If legal
Department of Taxation Commerce Tax Presentation Deonne E. Contine, Executive Director Sumiko Maser, Chief Deputy Executive Director Paulina Oliver, Deputy Executive Director What do I need to do to determine
GEORGIA DEPARTMENT OF REVENUE TAX GUIDE FOR MOTOR VEHICLE DEALERS Department of Revenue - Motor Vehicle Division 4125 Welcome All Road Atlanta, Georgia 30349 Revised: January 31, 2013 EDITOR S NOTE The
State Board Of Equalization Avoiding Common Sales and Use Tax Problems This presentation is designed to help you avoid some of the most common sales and use tax mistakes. The Board of Equalization maintains
Sales Tax On Dealer Owned Vehicles Minnesota Sales Tax Is A Retail Tax. In order to avoid multiple taxes, Minnesota law imposes sales tax once at the retail level. Sales tax is not due on wholesale transfers.
LICENSING & PERMITS LAS VEGAS, NORTH LAS VEGAS, HENDERSON, BOULDER CITY, MESQUITE AND CLARK COUNTY These are the suggested steps along with a listing and a brief description of each of the forms and filings
TITLE, REGISTRATION, AND SALES TAX ADMINISTRATIVE MANUAL SALES TAX SECTION UPDATES Updated December 2009 Web Version SALES TAX SECTION: TABLE OF CONTENTS PAGE GENERAL INFORMATION ABOUT COLORADO STATE TAXES
Ohio Department of Sales & Use Tax Division P.O. Box 530 Columbus, Ohio 43216-0530 tax.ohio.gov To All Ohio Vendors: March 2006 The Ohio 124th General Assembly passed Amended Substitute House Bill 405,
Dealer License Renewal Home Study Study Guide Please remember if you paid for this course by credit card: LEGAL DISCLAIMER @ View this Disclaimer Online: http://www.gotplates.com/disclaimer.html Standard
www.revenue.state.mn.us Motor Vehicle Sales and Purchases 125 Sales Tax Fact Sheet What s New in 2013 Starting July 1, 2013: The tax on collector passenger vehicles and fire trucks is $150. The gift of
STATE OF ARKANSAS Department of Finance and Administration http://www.arkansas.gov/dfa SALES & USE TAX SECTION P. O. BOX 1272 LITTLE ROCK, AR 72203-1272 PHONE: (501) 682-7104 FAX: (501) 682-7904 firstname.lastname@example.org
Sales and Use Tax Application for Refund Have Questions? Call 850-617-8585 Inside Frequently Asked Questions... p. 2-3 For Information, Forms, and Online Filing...p. 3 Application Form...p. 4 Documentation
South Gross Dakota Receipts Department of Revenue 445 East Capitol Avenue Pierre, South Dakota 57501 This fact sheet is designed to provide general guidelines and examples of what is included in a retailer
Information Bulletin PST-5 Issued: June 1984 Revised: August 2015 Was this bulletin useful? THE PROVINCIAL SALES TAX ACT GENERAL INFORMATION Click here to complete our short READER SURVEY This bulletin
www.revenue.state.mn.us Motor Vehicle Auto Body Repair and Service 131A Sales Tax Fact Sheet What s New in 2015 This fact sheet was updated to clarify subcontracted repairs and services on page. This fact
Florida Department of Revenue Standard Industry Guide PURPOSE This guide provides an auditor with information on the subject industry. This information will assist an auditor in recognizing areas to test
Provincial Sales Tax (PST) Bulletin Bulletin PST 118 Issued: November 2013 Vehicle Services and Parts Provincial Sales Tax Act This bulletin provides information on how the provincial sales tax (PST) applies
Tax Commission IDAHO #2 USE TAX An Educational Guide to Sales Tax in the State of Idaho This brochure is intended to help businesses, organizations, and individuals understand how use tax applies to them.
www.nsbdc.org (800) 240-7094 LICENSING & PERMITS IN LAS VEGAS, NORTH LAS VEGAS, HENDERSON, BOULDER CITY, MESQUITE AND CLARK COUNTY These are the suggested steps along with a listing and a brief description
ST 07-0125-GIL 08/16/2007 COMPUTER SOFTWARE This letter discusses sales of software. See 86 Ill. Adm. Code 130.1935. (This is a GIL.) August 16, 2007 Dear Xxxxx: This letter is in response to your letter
$uccessful Start, Sponsored by the Office of Student Services, Presents: HOW TO PLAN FOR MAJOR PURCHASES MAJOR PURCHASES Borrowing money Car Options* Leasing (or do you want to own a wasting asset) Buying
Audits of Automobile Body and Repair Shops If you are in certain retail businesses, industry specific audit procedures may be performed by the IRS in addition to the standard procedures performed during
Understanding Vehicle Financing Understanding Vehicle Financing With prices averaging more than $31,000 for a new vehicle and $17,000 for a used model from a dealership, you might consider financing or
Chapter 8: Sales Tax Page 1 Chapter 8 Sales Tax Section 8-1 Requirement 8-1.1 Authorization. Section 205.52 of the General Sales Tax Act (MCL 205.52) authorizes the collection of sales tax on the purchase
CHAPTER 7. SALES TAXES, VEHICLE INVENTORY TAXES, AND STANDARD PRESUMPTIVE VALUE NOTE: This section is meant solely as an introduction and may not reflect the most recent law changes as Motor Vehicle Sales
Jay M. Chadha, Fulbright & Jaworski LLP A Q&A guide to sales and use tax law in Texas. This Q&A addresses key areas of sales and use tax law such as tax scope, multi-state transactions and collecting taxes
State of Wisconsin Department of Revenue Important Change The football stadium district tax in Brown County ends on September 30, 2015. Filing Claims for Refund of Sales or Use Tax Includes information
http://dor.sd.gov/ 1.800.829.9188 Motor Vehicle Repair and Maintenance The purpose of this Tax Fact is to explain how South Dakota state and local sales taxes apply to motor vehicle dealers, repair shops
MOTOR VEHICLE DEALER SALESPERSON STUDY GUIDE MATERIALS 2201 West Broad Street, Suite 104 Richmond, Virginia 23220 804-367-1100 www.mvdb.virginia.gov MVDB 35 REVISED 07/01/15 INTRODUCTION This study guide
Presentation Slides $ Lesson Nine Cars and Loans 04/09 costs of owning and operating a motor vehicle ownership (fixed) costs: Depreciation (based on purchase price) Interest on loan (if buying on credit)
HONDA/ACURA Honda/Acura has agreed to arbitrate certain unresolved claims alleging defects in material or workmanship in its vehicles: Claims may be filed under the applicable state Lemon Law. These claims
State of Colorado Motor Vehicle Dealer Board Dealer - Wholesaler - Salesperson - Auction Dealer Mastery Examination Official Form Please Print Legibly Applicant Information - - First Name M.I. Last Name
1. How can I change my mailing address? Can you change my mailing address by phone? Please send us something in writing (or email us at email@example.com) indicating the correct mailing address for your property,
Form AS 2915.1 A Rev. Oct 9 15 COMMONWEALTH OF PUERTO RICO DEPARTMENT OF THE TREASURY SALES AND USE TAX MONTHLY RETURN (Electronically Filed) MERCHANT S REGISTRATION NUMBER PERIOD (MONTH/YEAR) MONTH YEAR
LICENSING & PERMITS VIRGINIA CITY AND STOREY COUNTY These are the suggested steps along with a listing and a brief description of each of the forms and filings necessary for business operations in Lyon
Ministry of Finance Revenue Division 2350 Albert Street Regina, Saskatchewan S4P 4A6 Information Bulletin PST-18 Issued: October, 1986 Revised: October, 2010 Was this bulletin useful? THE PROVINCIAL SALES
Dealer Registration Package REQUESTED by: 6 pages ATTENTION: Angela Boots (Dealer Registration) FAX NUMBER: (954)739-3359 EMAIL: firstname.lastname@example.org *****THIS PAGE DOES NOT NEED TO BE FILLED OUT IT IS ONLY
Vehicle purchasing guide Buy from a licensed Wisconsin dealer and you are protected by Wisconsin's motor vehicle trade practice law. Dealers follow the law when they advertise, display, and sell vehicles.
WHAT IF MY VEHICLE WAS... SOLD? TOTALED? REGISTERED OUT OF STATE? STOLEN? TAXED IN WRONG TOWN? REPOSSESSED? DONATED? ASSESSMENT OFFICE Town Of Simsbury PO Box 495 Simsbury CT 06070 Office Hours 8:30 7:00
ST 08-0176-GIL 12/10/2008 SERVICE OCCUPATION TAX This letter concerns tangible personal property transferred incident to sales of service. See 86 Ill. Adm. Code 140.01. (This is a GIL.) December 10, 2008
SURVEY OF SERVICE CONTRACT LEGISLATION (FORC Journal: Vol. 23 Edition 1 - Spring 2012) Alan J. Schmitz, Esq. (720) 200-4242 Over the past decade numerous jurisdictions have adopted new or updated service
SECTION 17 - NONPROFIT ENTITIES - HOSPITALS, EDUCATIONAL INSTITUTIONS, CHURCHES, ORPHANAGES AND OTHER CHARITABLE OR RELIGIOUS INSTITUTIONS AND ORGANIZATIONS AND QUALIFIED RETIREMENT FACILITIES WHOSE PROPERTY
NEVADA DEPARTMENT OF TAXATION NEVADA TAX NOTES Official Newsletter of the Department of Taxation JANUARY 2012 h t t p : / / t a x. s t a t e. n v. u s ISSUE NO. 177 File and pay online at www.nevadatax.nv.gov
BULLETIN NO. TAMTA 002 Issued October 2010 THE TAX ADMINISTRATION AND MISCELLANEOUS TAXES ACT BULK SALES - BUYING AND SELLING BUSINESS ASSETS This bulletin explains the seller s and buyer s requirements
Wayne Howell, PLLC Basic Property Damage Information Amotor vehicle accident results in two separate and distinct claims the bodily injury claim, for which you generally engage an attorney, and the property
Tax Commission IDAHO #4 retailers An Educational Guide to Sales Tax in the State of Idaho This brochure is intended to help retailers understand the sales tax laws that apply to their business. This information
Figure: 7 TAC 84.809(b) MOTOR VEHICLE RETAIL INSTALLMENT SALES CONTRACT (Optional: DATE ) BUYER SELLER/CREDITOR ADDRESS ADDRESS CITY STATE ZIP CITY STATE ZIP PHONE PHONE The Buyer is referred to as "I"
State of South Carolina Department of Revenue 301 Gervais Street, P.O. Box 125, Columbia, South Carolina 29214 Website Address: http://www.sctax.org SC PRIVATE LETTER RULING #07-7 SUBJECT: Sales of Photograph
Form AS 2915.1 A Rev. Aug 11 14 COMMONWEALTH OF PUERTO RICO DEPARTMENT OF THE TREASURY SALES AND USE TAX MONTHLY RETURN (Electronically Filed) MERCHANT S REGISTRATION NUMBER PERIOD (MONTH/YEAR) MONTH YEAR
ROYAL MALAYSIAN CUSTOMS GOODS AND SERVICES TAX GUIDE ON HIRE PURCHASE AND CREDIT SALE TABLE OF CONTENTS INTRODUCTION... 1 Overview of Goods and Services Tax (GST)... 1 OVERVIEW GENERAL OPERATIONS OF HP
Glossary of Assessment Terms: Abatement A reduction or elimination of a tax or charge imposed by a governmental unit, applicable to property tax bills, motor vehicle excise taxes, fees, charges, and special
CONSTRUCTION CONTRACTORS, OWNER BUILDERS AND SPECULATIVE BUILDERS This publication is for general information about the Transaction Privilege (Sales) Tax on contracting activities. It contains excerpts
This guide was created to help you with your first motor vehicle transaction and to make you aware of the many facets of the car buying process. Hopefully, with the help of this guide, your car purchasing
tax.utah.gov Sales Tax Information for Vehicle & Watercraft Dealers and Body & Repair Shops Publication 5 Revised 5/15 This publication is provided for general guidance only. It does not contain all sales
Common Accounting and Tax Problems Steven Carstens, CPA Steven Goldberg, CPA Shilson, Goldberg, Cheung & Associates Problem #1: Filing your dealership's tax return on the cash basis of accounting. In general,
BULLETIN NO. 028 Issued May 2000 Revised July 2013 THE RETAIL SALES TAX ACT DISCOUNTS, COUPONS AND CASH REBATES This bulletin outlines the retail sales tax application on sales where discounts, and cash
www.revenue.state.mn.us Isolated and Occasional Sales 132 Sales Tax Fact Sheet When a business or trade sells tangible personal property (goods or equipment), the sale is usually subject to Minnesota sales
EXCLUSION WORKSHEET FOR USE WITH THE FAIRFAX COUNTY BPOL (Tax Year) This worksheet should be used to identify all exclusions claimed on the business license applications to include forms: 8TA-FF, 8TA-E1,
INTERNET SERVICE The following are available on our web site: www.tax.alaska.gov Alaska Motor Fuel Tax Instructions Motor fuel tax statutes and regulations Motor fuel forms Excel template for return preparation
ARIZONA TRANSACTION PRIVILEGE TAX AND USE TAX DEFINITION TRANSACTION PRIVILEGE TAX Commonly referred to as sales tax, TPT is tax on the retail sale of tangible personal property and certain services. Retail
APPLICATIONS When a Title is Required... 4 Transferring Ownership... 6 Application Required within 60 Days of Date of Purchase... 8 Applying for Original Title Supporting Documents Required... 9 Making
INFORMATION BULLETIN #12 SALES TAX JULY 2015 (Replaces Bulletin #12 issued December 2014) Effective Date: Upon Publication SUBJECT: Public Transportation REFERENCES: IC 6-2.5-3-7; IC 6-2.5-5-8; IC 6-2.5-5-27;
Sales and Use Taxes Today Presented by Michelle Mann JPMS Cox, PLLC December 5, 2013 Shopping in Stores (Point of Sale) Catalogue Shopping over Phone (Mail Order) 1 Shopping over World Wide Web (Electronic
STANDARDS OF THE NEW YORK LEMON LAW New Car Lemon Law The following is a brief explanation of most relevant provisions of the lemon law. The complete text of the lemon law can be found at N.Y. Gen. Bus.
Teacher's Guide $ Lesson Eight Cars and Loans 01/11 cars and loans websites websites for cars and loans The internet is probably the most extensive and dynamic source of information in our society. The
EXCLUSION WORKSHEET FOR USE WITH THE FAIRFAX COUNTY BPOL (Tax Year) This worksheet should be used to identify all exclusions claimed on the business license applications to include forms: 8TA-FF, 8TA-E1,
FINANCING 101234 567890 123456 FINANCING 101 With a typical Hyundai Finance lease, you re covered for normal wear and use without having to pay additional charges at the end of the term. And while it s
The Total Loss Survival Guide How To Calculate The Value Of Your Vehicle After A Total Loss TheyWroteOffMyCar.com., 2014 Table of Contents 1. Introduction...3 2. What is a total loss?...3 3. What is "Replace
Page 1 of 9 Section 1: Georgia Sales and Use Tax Principles Presented by Ned A. Lenhart, CMI, CPA The objective of this section is to introduce and review some of the foundational components of Georgia
Dealership Office Management and Ford Accounting -- Second Edition -- Unit 7. Introduction to Dealership Accounting In Units 1-6, we have discussed basic accounting using generic company information. In
FIRST COMMERCIAL INSURANCE COMPANY USED AUTO DEALER PROGRAM UNDERWRITING GUIDELINES SCOPE OF PROGRAM This program is specifically designed for Non-Franchised Auto Dealers located in the State of Florida.
INFORMATION BULLETIN #20 SALES TAX OCTOBER 2015 Effective Date: October 1, 2015 (Replaces Information Bulletin #20 dated October 2009) SUBJECT: Auctions/Casual Sales/Consignment Sales REFERENCES: IC 6-2.5-2-3;