Alabama Statutes
§ 40-23-103 — Sales Tax Levied on Sale Price Less Credit for Trade-In
Alabama·Title 40 Revenue and Taxation·Ch. 23 Sales and Use Taxes·Art. 3 Taxes on Sale, Storage, and Use of Automotive Vehicles, Motorboats, Truck Trailers, Etc
Where any used automotive vehicle, motorboat, truck trailer, semitrailer, or house trailer is taken in trade or in a series of trades as a credit or part payment on the sale of a new or used automotive vehicle, motorboat, truck trailer, semitrailer, or house trailer, the tax levied in this article shall be paid on the net difference, that is, the price of the new or used vehicle, motorboat, or trailer sold less the credit for the used vehicle, motorboat, or trailer taken in trade.
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Alabama § 40-23-103 (Sales Tax Levied on Sale Price Less Credit for Trade-In) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.
Legislative History
(Acts 1981, No. 81-665, p. 1086, §4; Acts 1994, No. 94-622, p. 1162, §4.)
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