5006

VETOES

(ii) As to a used vehicle that is sold by
any person other than a licensed dealer and that has a
designated model year that is 7 years old or older, the
greater of[;]:

1. The total purchase price; or

2. [$100] $300;

(iii) As to any other used vehicle that is
sold by any person other than a licensed dealer OR IN ANY
OTHER CASE, either:

1. The total purchase price[; or],
IF VERIFIED BY MEANS OF A NOTARIZED BILL OF SALE, SIGNED BY
BOTH THE BUYER AND THE SELLER, IN WHICH THE ACTUAL PRICE
PAID FOR THE VEHICLE IS STATED; OR

2. [The] IN THE CASE WHERE THE BILL
OF SALE DOES NOT ACCOMPANY THE TITLE, EITHER THE TOTAL
PURCHASE PRICE OR THE valuation shown in a national
publication of used car values adopted for use by the
Departments; and

(iv) In any other case, THE TOTAL PURCHASE
PRICE OR the valuation shown in a national publication of
used car values adopted for use by the Department].

(3) "Total purchase price" means the price of a
vehicle agreed on by the buyer and the seller, with no
allowance for trade-in OR OTHER NONMONETARY CONSIDERATION.

(b) Except as otherwise provided in this part, in
addition to any other charge required by the Maryland
Vehicle Law, an excise tax is imposed:

(1) For each original and each subsequent
certificate of title issued in this State for a motor
vehicle, trailer, or semitrailer; and

(2) For each motor vehicle, trailer, or
semitrailer that is in interstate operation and registered
under § 13-109(c) of this title without a certificate of
title.

(c) (1) The tax imposed by this section is 5 percent
of the fair market value of the vehicle.

(2) If the vehicle formerly was a vehicle exempt
from the tax imposed by this section, the tax shall be
reduced by any amount previously paid by the present owner
as a retail sales tax on the vehicle under the retail sales
tax act of the Code.