{"data":{"id":"us-ky/krs-138.4602","jurisdiction":"us-ky","citation":"KRS 138.4602","heading":"Determination of motor vehicle retail price for sales on or after","body":"September 1, 2009, and before July 1, 2014.\n(1) (a) Effective for sales on or after September 1, 2009, and before July 1, 2014, of:\n1. New motor vehicles;\n2. Dealer demonstrator vehicles;\n3. Previous model year motor vehicles; and\n4. U-Drive-It motor vehicles that have been transferred within one hundred\neighty (180) days of being registered as a U -Drive-It and that have less\nthan five thousand (5,000) miles;\nthe retail price shall b e determined by reducing the amount of total\nconsideration given by the trade -in allowance of any motor vehicle traded in\nby the buyer. The value of the purchased motor vehicle and the amount of the\ntrade-in allowance shall be determined as provided in sub section (2) of this\nsection, and the availability of the trade -in allowance shall be subject to\nsubsection (3) of this section.\n(b) The retail price shall not include that portion of the price of the vehicle\nattributable to equipment or adaptive devices ne cessary to facilitate or\naccommodate an operator or passenger with physical disabilities.\n(2) (a) The value of the purchased motor vehicle offered for registration and the\nvalue of the vehicle offered in trade shall be attested to in a notarized\naffidavit, provided that the retail price established by the notarized affidavit\nshall not be less than fifty percent (50%) of the difference between the\napplicable value of the purchased motor vehicle, as determined under the\nmethod described in paragraph (b) of this subsection, and the trade-in value of\nany motor vehicle offered in trade, as established by the reference manual.\n(b) If a notarized affidavit is not available:\n1. The retail price of the purchased motor vehicle offered for registration\nshall be determined as follows:\na. Ninety percent (90%) of the manufacturer's suggested retail price\nof the vehicle with all equipment and accessories, standard and\noptional, and transportation charges; or\nb. Eighty-one percent (81%) of the manufacturer's suggested retail\nprice of the vehicle with all equipment and accessories, standard\nand optional, and transportation charges in the case of new trucks\nof gross weight in excess of ten thousand (10,000) pounds; and\n2. The value of the vehicle offered in trade shall be the trade -in value, as\nestablished by the reference manual.\n(3) (a) The trade-in allowance permitted by subsection (1) of this section shall be for\nmotor vehicles purchased between September 1, 2009 , and ending June 30,\n2011. The total amount of reduced tax receipts related to the trade -in\nallowance shall be subject to a cap of twenty -five million dollars\n($25,000,000). The trade-in allowance shall be available on a first-come, first-\nserved basis. Im plementation and application of the cap shall be determined\nby the department through the promulgation of an administrative regulation in\naccordance with KRS Chapter 13A.\n(b) The administrative regulation shall include:\n1. A method for new vehicle dealers and county clerks to determine the\namount of the new vehicle credit cap at any point in time during the\nyear; and\n2. A notification process to all county clerks when the new vehicle credit\ncap has been reached during the year.\n(4) When the cap established by subsection (3) of this section has been reached, or for\nall motor vehicles purchased after June 30, 2011, and before July 1, 2014, the retail\nprice of all motor vehicles listed in subsection (1) of this section shall be:\n(a) The total consideration give n, including any trade-in allowance, as attested in\na notarized affidavit; or\n(b) If a notarized affidavit is not available, the retail price of the motor vehicle\noffered for registration shall be determined as follows:\n1. Ninety percent (90%) of the manuf acturer's suggested retail price of the\nvehicle with all equipment and accessories, standard and optional, and\ntransportation charges; or\n2. Eighty-one percent (81%) of the manufacturer's suggested retail price of\nthe vehicle with all equipment and accesso ries, standard and optional,\nand transportation charges in the case of new trucks of gross weight in\nexcess of ten thousand (10,000) pounds.\nThe retail price shall not include that portion of the price of the vehicle attributable\nto equipment or adaptive devices necessary to facilitate or accommodate an operator\nor passenger with physical disabilities.","path":["KRS Chapter 138"],"source_url":"https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=42428","current_through":"Includes enactments through the 2026 Regular Session","vintage":"09/05/2026","retrieved_at":"2026-09-05T20:50:30Z","sha256":"b98ba7594f6f84304b434c40b671592795e19d77dd6b4ba39533a48b37f69313","source_id":"us-ky","stale":false,"prev":"us-ky/krs-138.460","next":"us-ky/krs-138.4603"},"notice":"GroundRules: Original legal text. Not legal advice."}