Section 32-5B-1.4 - Licensing and payment of excise tax on new vehicle by dealer--Subsequent purchaserexempt. - South Dakota Statutes

32-5B-1.4. Licensing and payment of excise tax on new vehicle by dealer--Subsequent purchaser exempt. A licensed motor vehicle dealer who sells new motor vehicles and has a franchise for that particular motor vehicle may license a new motor vehicle which is part of his inventory. If the dealer licenses the motor vehicle, he shall title the motor vehicle and pay the three percent excise tax on the manufacturer's suggested dealer list price. The next purchaser shall be exempt from the excise tax.

Source: SL 1987, ch 219, § 2; SL 1988, ch 236, § 22.