If I paid less for my car than the value on the bill, is there an error?
If I paid less for my car than the value on the bill, is there an error?
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Most likely not! Valuations for excise tax purposes are not based on individual purchase prices. Excise valuations are based on specific, predetermined percentages of the Manufacturer’s Suggested Retail Price (M.S.R.P.). The M.S.R.P. is reported in the National Automobile Dealer’s Association (N.A.D.A.) guide. The fact that an individual may secure a particularly good deal on a vehicle has no bearing on valuations for excise tax purposes. |