DRS: 12-431(b)-1, Presumed total purchase price of motor vehicle purchased other than from motor vehicle dealer

DRS has reproduced this regulation. This is an unofficial copy. Official copies of regulations ONLY are available from the Commission on Official Legal Publications, 111 Phoenix Avenue, Enfield, CT 06082,  colp@jud.state.ct.us. Copies of DRS forms and publications are available at http://www.ct.gov/drs

 

Conn. Agencies Regs. 12-431(b)-1.   Presumed total purchase price of motor vehicle purchased other than from motor vehicle dealer.

(a) In general. Section 12-431 (b) of the general statutes requires the commissioner of revenue services to adopt, by regulation, a book of valuations of motor vehicles published by a nationally recognized organization. Section 12-431 (b) also requires the commissioner to determine, by regulation, which of the various valuations of motor vehicles contained in any such book is appropriate for the purposes of section 12-431. This regulation makes the required selections. Subsection (a) of this regulation describes the scope and content thereof. Subsection (b) of this regulation selects the book of valuations that will be used for purposes of section 12-431. Subsection (c) of this regulation selects the valuation of the various valuations contained in the selected book of valuations that will be used for purposes of section 12-431.

(b) Selected book of valuations. The book of valuations that will be used under subsection (b) of section 12-431 is the current month's issue of the N.A.D.A. Official Used Car Guide, Eastern Edition. The term "selected book of valuations," wherever used in this regulation, means the current month's issue of the N.A.D.A. Official Used Car Guide, Eastern Edition.

(c) Selected valuation. Of the various valuations contained in the selected book of valuations, the valuation that will be used under subsection (b) of section 12-431 is the average trade-in value. The term "selected valuation," wherever used in this regulation, means the average trade-in value, without allowance for any additions (e.g., for low mileage or optional equipment) or deductions (e.g., for high mileage or absence of certain equipment).

(Effective April 28, 1992.)