Have you seen anything that explains the language in the law related to the sales price that qualifies?
http://lawfilesext.leg.wa.gov/biennium/2019-20/Pdf/Bills/Session Laws/House/2042-S2.SL.pdf
The statute says the sales price plus value of any like trade in not exceeding $45,000. But I’m not sure what they mean but “plus trade in”.
“a vehicle selling price plus trade-in property of like kind for purchased vehicles that:
(I) For a vehicle that is a new vehicle at the time of the purchase date or the date the lease agreement was signed, does not exceed forty-five thousand dollars;”
If for example the car is $45,000, and I trade in a car for $1, that the transaction no longer qualifies, because $45,001 I exceeds the threshold? Or does it mean if the price is $45,001, and I my trade in is $1, that it would qualify?
Also, by “like kind” do they mean a clean energy/EV? So the purchase wouldn’t qualify if I trade in an EV, but would if I trade in an ICE?
Found this on the DOL, but I don’t think their interpretation of the language of the law is correct. Any lawyers out there?
“These price thresholds include both the cost of the vehicle and the value of your trade-in, if applicable.
For example, if the cost of a new vehicle is $48,000, and the value of your trade-in is worth $6,000, you cannot receive the tax exemption. This is because even though the trade-in brought the cost of the vehicle down to $42,000, the new vehicle was still worth over the $45,000 limit. You cannot use a trade-in to lower the price of a vehicle to meet the exemption limits.”
https://www.dol.wa.gov/vehicleregistration/docs/faq-altfuleexemptions.pdf