The UVIP provides an average wholesale and average retail value for the vehicle. Which value is used for determining the amount of retail sales tax payable?
The amount of retail sales tax payable is based on the fair market value, which is the higher of the sale price or average wholesale value. The average wholesale value is described as the average price that dealers pay when buying vehicles from other dealers. The wholesale rate is a base price and does not include options such as air conditioning, AM-FM stereos, cruise control, etc.
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