Laws, Regulations & Annotations
Business Taxes Law Guide – Revision 2016
Sales and Use Tax Annotations
130.0220 Repossessed Automobiles. No additional credit for bad debts other than that based on the Kelly Blue Book values is allowed on repossessed automobiles which are reconditioned for resale, provided the automobiles are in average condition. However, an adjustment or additional allowance will be made to the published wholesale prices where the automobile is not in average condition and requires more than the normal get-ready or reconditioning to prepare the vehicle for resale. 12/9/66.