Author: Windows User
Company: Oklahoma House of Reps

STATE OF OKLAHOMA

2nd Session of the 54th Legislature (2014)

HOUSE BILL 2403	By:	Hulbert

AS INTRODUCED

An Act relating to excise tax; amending 68 O.S. 2011, Section 2104 and 63 O.S. 2011, Section 4105, which relate to excise taxes for motor vehicles and water vessels; modifying determination of value subject to excise tax; and providing an effective date.

BE IT ENACTED BY THE PEOPLE OF THE STATE OF OKLAHOMA:
SECTION 1.     AMENDATORY     68 O.S. 2011, Section 2104, is amended to read as follows:
Section 2104.  A.  The value of any motor vehicle, except a manufactured home, for the purposes of the excise tax levied by Section 2103 of this title, shall be determined as of the time the person applying for a certificate of title thereto obtained either ownership or possession of the vehicle, which shall be presumed to be the actual date of the sale or other transfer of ownership, and assignment of the certificate of title.
B.  The value of any vehicle, for purposes of the excise tax levied by Section 2103 of this title, shall be the actual sales price of such a vehicle before any discounts or credits are given for a trade-in.  ~~However, the value of the vehicle prior to the subtraction of such discounts or credits for a trade-in shall be required to be within twenty percent (20%) of the average retail price value of such vehicle as listed in the automotive reference material prescribed by the Oklahoma Tax Commission.~~  The actual sales price of the vehicle, which total shall be the basis of the motor vehicle excise tax, as well as the number of tires on the vehicle and the tire rim diameters, shall be entered on the bill of sale furnished by the seller to the purchaser, or on such other form as may be prescribed by the Tax Commission.
Upon receipt of the properly completed bill of sale or other form as prescribed by the Tax Commission, and the payment of all applicable taxes and fees, the Tax Commission or an appointed motor license agent shall issue a vehicle certificate of title in accordance with the provisions of the Oklahoma Vehicle License and Registration Act.
SECTION 2.     AMENDATORY     63 O.S. 2011, Section 4105, is amended to read as follows:
Section 4105.  A.  The value of any vessel or motor for the purposes of the excise tax levied by Section 4103 of this title shall be determined as of the time the person applying for a certificate of title thereto obtained either legal ownership or possession of the vessel or motor which shall be the actual date of the sale or other transfer of legal ownership, which date shall be shown by the assignment on the certificate of title or, in the case of a new vessel or motor on the manufacturer's certificate or statement of origin hereby required, and by the application for registration, required to be furnished by the licensed dealer for use by the purchaser.  The value of a new or used vessel or ~~new~~ motor for excise tax purposes shall be the ~~manufacturer's~~ actual sales price of ~~such~~ the vessel or motor ~~delivered at the factory.  As used herein, the manufacturer's factory-delivered price shall represent the recommended retail selling price and shall not mean the wholesale price to a dealer~~ before any discounts or credits are given for a trade-in.  Further, for purposes of the Oklahoma Vessel and Motor Excise Tax Act, Section 4102 et seq. of this title, a new vessel or new motor used by a licensed dealer for demonstration purposes shall be considered a new vessel or new motor upon the first time sale and registration of such vessel or motor.  ~~The value of a used vessel or used motor shall be sixty-five percent (65%) of the manufacturer's price of such vessel or motor delivered at the factory for subsequent transfers for the first year and for the second year and sixty-five percent (65%) of the value of the previous year so fixed for each successive year for which such vessel or motor is registered and licensed in this or any other state, until such vessel or motor reaches a minimum value of Two Hundred Fifty Dollars ($250.00)~~.
B.  The Commission shall have the authority in cases of dispute to determine the ~~factory delivered price or~~ actual sales price of any vessel or motor.
C.  In computing the excise tax, the fees collected shall be rounded to the nearest dollar.
SECTION 3.  This act shall become effective November 1, 2014.

54-2-9509	JM	01/03/14

Req. No. 9509	Page