IMPROPERLY ASSIGNED OR REASSIGNED TITLES The Used Motor Vehicle and Parts Commission (UMV&PC) and the Oklahoma Tax Commission (OTC) are working together to reduce the incidence of dealers issuing improperly assigned or reassigned titles and titles that don’t have the necessary motor vehicle tax stamp affixed to them. When a customer presents such a title to a motor license agent, the OTC
has asked the agent fax a copy of that title to the UMV&PC. It is the intention of the UMV&PC to audit the offending dealer’s records to determine the extent of the problem and take corrective action. Use of the motor vehicle tax stamp is a major benefit to dealers, because it is used in lieu of ad valorem taxes. This is just a friendly reminder: what the legislature giveth, the legislature can take away. Also, in regards to another element of the tax stamp issue, the OTC Legal Division has issued another reminder to motor license agents that they are not statutorily authorized to sell or provide motor vehicle tax stamps to any taxpayer or dealership and are therefore directed not to do so. If presented with dealer documentation lacking the required motor vehicle tax stamp, motor license agents are directed to advise the taxpayer to contact the selling dealer to resolve the issue and report the discrepancy to the UMV&PC.
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JANUARY 2011
w w w. e - o i a d a . c o m
12/21/10 10:14 AM