s i d e b a r

NOT ALL BUYERS GET EXCISE TAX EXEMPTIONS

     Current rules allow the manufacturer to sell a new vehicle without collecting the excise tax if the truck is to be resold (as through a dealer), or leased under a long term contract (as through a leasing company). Previously the dealer or leasing company had to be registered with the IRS. This change simply eliminates the registration requirement — as long as the buyer furnishes a signed statement attesting to the eventual sale or lease. The excise tax is collected when the dealer sells the vehicle or, in the case of a lease, is included in lease payments.

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