Bill > S1585

This bill amends Section 4 of Chapter 64I of the General Laws, which deals with sales of motor vehicles, specifically concerning how the "sales price" is determined for tax purposes. Previously, the sales price was considered the greater of the actual amount paid or the clean trade-in value, regardless of the vehicle's condition. This bill changes that by requiring the sales price to be the actual amount paid by the purchaser, as documented by a notarized bill of sale. If a notarized bill of sale is not provided, then the sales price will be determined by the clean trade-in value of the motor vehicle. This change aims to ensure accurate documentation and potentially impact revenue collection related to motor vehicle sales.