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Law Educator, Esq.
Law Educator, Esq., Lawyer
Category: Consumer Protection Law
Satisfied Customers: 89320
Experience:  Attorney experienced in commercial litigation.
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what is the law as to "what figures do vehicle dealerships

Resolved Question:

what is the law as to "what figures do vehicle dealerships use to assess
Submitted: 1 year ago.
Category: Consumer Protection Law
Expert:  Law Educator, Esq. replied 1 year ago.
Thank you for your question. I look forward to working with you to provide you the information you are seeking.

I am sorry, but your question above is quite vague and we do not understand what you are seeking. Can you please provide us more information and be more specific regarding what information you are seeking?
Customer: replied 1 year ago.

dealerships in Ar must assess at the end of each year, in years past that was whatever vehicles was on lot for sale as of Dec 31. They are now telling us we must turn in a list of all vehicles sold during the year and what they sold for, When a customer purchases a vehicle thet pay taxes on to state when it is tagged. Can you tell me "Is it a law that I must list all vehicles sold during year and selling price?"


Thank you

Expert:  Law Educator, Esq. replied 1 year ago.
Thank you for your response.

The Arkansas department of revenue/finance which is responsible for all taxes in Arkansas requires all sales of vehicles to be reported by the seller annually as part of their rules to try to combat tax evasion. So they are not just looking for what you have not sold and remains on your lot, they are looking for you to report your sales so they can compare it to the taxes you have due as well as what the seller pays.



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Law Educator, Esq., Lawyer
Satisfied Customers: 89320
Experience: Attorney experienced in commercial litigation.
Law Educator, Esq. and 4 other Consumer Protection Law Specialists are ready to help you

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