Skip to main content
Find a Lawyer

Kentucky Revised Statutes Title XI. Revenue and Taxation § 138.4603.Determination of motor vehicle retail price for sales on or after July 1, 2014

Current as of January 01, 2025 | Updated by Findlaw Staff

(1)(a) Effective for sales on or after July 1, 2014, of:

1. New motor vehicles;

2. Dealer demonstrator vehicles;

3. Previous model year motor vehicles; and

4. U-Drive-It motor vehicles that have been transferred within one hundred eighty (180) days of being registered as a U-Drive-It and that have less than five thousand (5,000) miles;

the retail price shall be determined by reducing the amount of total consideration given by the trade-in allowance of any motor vehicle traded in by the buyer. The value of the purchased motor vehicle and the amount of the trade-in allowance shall be determined as provided in subsection (2) of this section.

(b) The retail price shall not include that portion of the price of the vehicle attributable to equipment or adaptive devices necessary to facilitate or accommodate an operator or passenger with physical disabilities.

(2)(a) The value of the purchased motor vehicle offered for registration and the value of the vehicle offered in trade shall be attested to in a notarized affidavit.

(b) If a notarized affidavit is not available:

1. The retail price of the purchased motor vehicle offered for registration shall be determined as follows:

a. Ninety percent (90%) of the manufacturer's suggested retail price of the vehicle with all equipment and accessories, standard and optional, and transportation charges; or

b. Eighty-one percent (81%) of the manufacturer's suggested retail price of the vehicle with all equipment and accessories, standard and optional, and transportation charges in the case of new trucks of gross weight in excess of ten thousand (10,000) pounds; and

2. The value of the vehicle offered in trade shall be the trade-in value, as established by the reference manual.

Previous Part of Code Next Part of Code
Back to Chapter List

Cite this article: FindLaw.com - Kentucky Revised Statutes Title XI. Revenue and Taxation § 138.4603.Determination of motor vehicle retail price for sales on or after July 1, 2014 - last updated January 01, 2025 | https://codes.findlaw.com/ky/title-xi-revenue-and-taxation/ky-rev-st-sect-138-4603/

FindLaw Codes may not reflect the most recent version of the law in your jurisdiction. Please verify the status of the code you are researching with the state legislature before relying on it for your legal needs.

Was this helpful?

Welcome to FindLaw's Cases & Codes

A free source of state and federal court opinions, state laws, and the United States Code. For more information about the legal concepts addressed by these cases and statutes, visit FindLaw’s Learn About the Law.

Go to Learn About the Law

Latest Blog Posts

For Legal Professionals

Learn About The Law

Get help with your legal needs

FindLaw’s Learn About the Law features thousands of informational articles to help you understand your options. And if you’re ready to hire an attorney, find one in your area who can help.

Go to Learn About the Law

Need to Find an Attorney?

Search our directory by legal issue

Enter information in one or both fields (Required)

Copied to clipboard