Bill Text: VA HB148 | 2015 | Regular Session | Prefiled
Bill Title: Motor vehicle sales and use tax; reduces sale price by value of any trade-in.
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2014-12-04 - Left in Finance [HB148 Detail]
Download: Virginia-2015-HB148-Prefiled.html
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14102404D Be it enacted by the General Assembly of Virginia: 1. That §58.1-2401 of the Code of Virginia is amended and reenacted as follows: §58.1-2401. Definitions. As used in this chapter, unless the context clearly shows otherwise, the term or phrase: "Commissioner" shall mean the Commissioner of the Department of Motor Vehicles of the Commonwealth. "Department" shall mean the Department of Motor Vehicles of this Commonwealth, acting through its duly authorized officers and agents. "Mobile office" shall mean an industrialized building unit not subject to the federal regulation, which may be constructed on a chassis for the purpose of towing to the point of use and designed to be used with or without a permanent foundation, for commercial use and not for residential use; or two or more such units separately towable, but designed to be joined together at the point of use to form a single commercial structure, and which may be designed for removal to, and installation or erection on other sites. "Motor vehicle" shall mean every vehicle, except for mobile office as herein defined, which is self-propelled or designed for self-propulsion and every vehicle drawn by or designed to be drawn by a motor vehicle, including manufactured homes as defined in §46.2-100 and every device in, upon and by which any person or property is, or can be, transported or drawn upon a highway, but excepting devices moved by human or animal power, devices used exclusively upon stationary rails or tracks and vehicles, other than manufactured homes, used in this Commonwealth but not required to be licensed by the Commonwealth. "Sale" shall mean any transfer of ownership or possession, by exchange or barter, conditional or otherwise, in any manner or by any means whatsoever, of a motor vehicle. The term shall also include a transaction whereby possession is transferred but title is retained by the seller as security. The term shall not include a transfer of ownership or possession made to secure payment of an obligation, nor shall it include a refund for, or replacement of, a motor vehicle of equivalent or lesser value pursuant to the Virginia Motor Vehicle Warranty Enforcement Act (§59.1-207.9 et seq.). Where the replacement motor vehicle is of greater value than the motor vehicle replaced, only the difference in value shall constitute a sale. "Sale price" shall mean the total price paid for a
motor vehicle and all attachments thereon and accessories thereto less the value of any trade-ins,
as determined by the Commissioner, exclusive of any federal manufacturers'
excise tax, without any allowance or deduction for |
