2015 Oklahoma Statutes
Title 68. Revenue and Taxation
§68-2104. Value of vehicles.

A. The value of any motor vehicle, except a manufactured home, for the purposes of the excise tax levied by Section 2103 of this title, shall be determined as of the time the person applying for a certificate of title thereto obtained either ownership or possession of the vehicle, which shall be presumed to be the actual date of the sale or other transfer of ownership, and assignment of the certificate of title.

B. The value of any vehicle, for purposes of the excise tax levied by Section 2103 of this title, shall be the actual sales price of such a vehicle before any discounts or credits are given for a trade-in. However, the value of the vehicle prior to the subtraction of such discounts or credits for a trade-in shall be required to be within twenty percent (20%) of the average retail price value of such vehicle as listed in the automotive reference material prescribed by the Oklahoma Tax Commission. The actual sales price of the vehicle, which total shall be the basis of the motor vehicle excise tax, as well as the number of tires on the vehicle and the tire rim diameters, shall be entered on the bill of sale furnished by the seller to the purchaser, or on such other form as may be prescribed by the Tax Commission.

Upon receipt of the properly completed bill of sale or other form as prescribed by the Tax Commission, and the payment of all applicable taxes and fees, the Tax Commission or an appointed motor license agent shall issue a vehicle certificate of title in accordance with the provisions of the Oklahoma Vehicle License and Registration Act.

Added by Laws 1963, c. 361, § 2, eff. July 1, 1963. Renumbered from § 21-104 of this title by Laws 1965, c. 215, § 3. Amended by Laws 1980, c. 85, § 13, eff. Jan. 1, 1981; Laws 1981, c. 118, § 28, eff. Oct. 1, 1981; Laws 1982, c. 95, § 15, emerg. eff. April 6, 1982; Laws 1985, c. 179, § 91, operative July 1, 1985; Laws 1992, c. 300, § 2, eff. July 1, 1992; Laws 2000, c. 250, § 9, eff. Oct. 1, 2000, and adopted by State Question No. 691, Legislative Referendum No. 319, at election held Aug. 22, 2000; Laws 2007, c. 273, § 1, eff. Nov. 1, 2007.