What is the Affidavit of Total Consideration?
This Affidavit is a form which requires the signature of both the buyer and the seller; it requires vehicle information, price paid and signatures must be notarized. Other forms are not accepted. If the Affidavit is not available, tax will be based on the “retail” value from the prescribed price reference manual. Vehicles received as “gifts” or for a nominal consideration, will be taxed on the trade-in value from the price reference manual.
Related Questions
- If a vehicle is not listed in the prescribed reference manual and an Affidavit of Total Consideration is not available, how is tax assessed?
- How is the Price of a bond calculated? What is the total consideration amount of a trade and what is accrued interest?
- What is the Affidavit of Total Consideration?
