OOS/OOC Vehicles
The amount of time an out-of-state vehicle must have been owned to exempt a customer from sales tax.
What is 6 months?
We would collect $375 on a $5,000 purchase price for a DeSoto County Resident.
What is False?
Transfers between these individuals are automatically exempt from tax, regardless of circumstance.
Who are spouses?
This 'Acquired By' code is used to indicate a casual sale took place.
What is "R" for Regular?
This transaction type does not apply to businesses.
What is a gift?
Must determine/declare the Fair Market Value of the vehicle.
Who is the customer?
When a vehicle is traded in to a dealer, the value of the trade-in should be deducted from this value.
What is the taxable value of the vehicle?
This form is to be completed when an off-highway vehicle will be used exclusively on a farm or in a forest for agricultural purposes.
What is the Miscellaneous Affidavit?
The code used most commonly in death procedures.
What is "I" for Inheritance?
This form reduces the taxable value and thereby reduces the amount of sales tax collected on a Rental Property mobile home.
What is an Itemized Invoice Affidavit (with notary or perjury clause)?
Sales tax paid to another country.
What is not reciprocal?
This form should be completed any time you suspect (for any reason) that a purchase price is not the actual price of the vehicle.
What is the Suspicious Selling Price Affidavit?
A non-profit organization's vehicle is no longer sales tax exempt when this title transaction occurs.
What is an "add name" transaction?
The code which indicates a casual sale took place, but money did not exchange hands.
What is "T" (trade)?
The sales tax cap (dollar amount) for boats.
What is $18,000?
A service warranty on a dealer's invoice would not apply as this.
What is a credit?
This tax only affects the first $5,000 of the purchase price.
What is Discretionary Tax?
There are 2 ways you are able to verify the legitimacy of an exemption certificate a non-profit organization submits.
What are the DOR's website (certificate numbers only) and by phone 877.357.3725?
This code indicates a customer was awarded a vehicle through the courts.
What is "C" (court order)?
The "Complete Rig" exception does not apply to them.
Who are Boat Dealers?
Inspection Fees, Shipping Fees and Administrative Fees are all this.
What is Taxable?
A customer must request a formal written ruling, in their favor, from this organization when they contest the amount of sales tax due.
What is the Department of Revenue?
If a new or used vehicle has been made accessible for wheelchairs or handicapped persons, the equipment is not subject to sales tax, provided BOTH of these requirements are met.
What are....
1. A prescription from a doctor for the equipment
AND
2. An itemized bill of sale or dealer's invoice that lists the vehicle and equipment separately
To enter sales tax credit in FRVIS, you must enter the sales tax credit amount and applicable state in this field.
What is the Sales Tax Credit field?
Provided the buyer has a valid Resale Certificate from the DOR, this type of mobile home is not subject to sales tax.
What is a mobile home used exclusively for rental or lease?