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297B.01.8

Statute ID: 8647

Statute Function ID: 21126

Motor Vehicle Tax - Definitions-Purchase Price

In Effect

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Details are only available for Penalty and Charging Statutes.

Statute Number:

297B.01.8

Enactment Date:

Jan 1, 1859

Effective Date:

Jan 1, 1859

Expiration Date:

Repealed?:

Summary Text:

Motor Vehicle Tax - Definitions-Purchase Price

Statute ID:

8647

Created:

Sep 1, 2006 by mnjis.legal.analyst@state.mn.us

Updated:

Sep 1, 2006 by mnjis.legal.analyst@state.mn.us

Last Update Action:

System

Legal Analyst Comment:

Summary Text:

Motor Vehicle Tax - Definitions-Purchase Price

Link to MN Statute Text:

https://www.revisor.leg.state.mn.us/stats/297B/01.html

Legislative Session:

0 - NA

Session Law Text?:

Statute text last updated on:

Sep 1, 2006

(a) "Purchase price" means the total consideration valued in money for a sale, whether paid in money or otherwise. The purchase price excludes the amount of a manufacturer's rebate paid or payable to the purchaser. If a motor vehicle is taken in trade as a credit or as part payment on a motor vehicle taxable under this chapter, the credit or trade-in value allowed by the person selling the motor vehicle shall be deducted from the total selling price to establish the purchase price of the vehicle being sold and the trade-in allowance allowed by the seller shall constitute the purchase price of the motor vehicle accepted as a trade-in. The purchase price in those instances where the motor vehicle is acquired by gift or by any other transfer for a nominal or no monetary consideration shall also include the average value of similar motor vehicles, established by standards and guides as determined by the motor vehicle registrar. The purchase price in those instances where a motor vehicle is manufactured by a person who registers it under the laws of this state shall mean the manufactured cost of such motor vehicle and manufactured cost shall mean the amount expended for materials, labor, and other properly allocable costs of manufacture, except that in the absence of actual expenditures for the manufacture of a part or all of the motor vehicle, manufactured costs shall mean the reasonable value of the completed motor vehicle.
(b) The term "purchase price" shall not include the portion of the value of a motor vehicle due solely to modifications necessary to make the motor vehicle disability accessible. 
(c) The term "purchase price" shall not include the transfer of a motor vehicle by way of gift between a husband and wife or parent and child, or to a nonprofit organization as provided under subdivision 7, paragraph (e), nor shall it include the transfer of a motor vehicle by a guardian to a ward when there is no monetary consideration and the title to such vehicle was registered in the name of the guardian, as guardian, only because the ward was a minor. 
(d) The term "purchase price" shall not include the transfer of a motor vehicle as a gift between a foster parent and foster child. For purposes of this subdivision, a foster relationship exists, regardless of the age of the child, if (1) a foster parent's home is or was licensed as a foster family home under Minnesota Rules, parts 9545.0010 to 9545.0260, and (2) the county verifies that the child was a state ward or in permanent foster care.
(e) There shall not be included in "purchase price" the amount of any tax imposed by the United States upon or with respect to retail sales whether imposed upon the retailer or the consumer.