English: 16-Hour New License Auto Dealer Course
Simple Example
assessment
New Dealers
Simple Example: MIA Used Cars is buying a used vehicle from Uncle Rico Used Car sales. The agreed upon sales price is $1,000. MIA will present his Certificate of Resale at the time of purchase and only pay the sales price net of taxes; in this case, $1,000. MIA then retails the car for $2,000 to Jessica. Jessica will then pay $2120. ($2,000 plus 6% sales tax).
*$2000 X 0.06 = $120. *$2000+$120=$2120 Total
The Annual Certificate of Resale expires on December 31st of every year, but will be automatically renewed by the Department of Revenue as long as the dealer maintains an active Certificate of Tax Registration.
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Course
English: 16-Hour New License Auto Dealer Course
Author
Joaquin Jimenez
Instructor
