This bill amends South Dakota law regarding the calculation of excise tax for used vehicles sold, leased, or transferred by individuals who are not licensed motor vehicle dealers. It specifies that county treasurers must calculate the excise tax based on the amount shown on a bill of sale provided by the seller. If a vehicle is traded in as part of the transaction, the trade-in value must be deducted from the total consideration. If a bill of sale is not submitted, the excise tax will be assessed based on the retail value as stated in a nationally recognized dealers' guide, with similar deductions for trade-in values.

Additionally, the bill introduces a new requirement for owners selling, leasing, or transferring used vehicles to provide a bill of sale that states the total consideration received. This bill of sale must be submitted to the county treasurer within 45 days of the transaction. The excise tax will be assessed based on the amount shown on the bill of sale, or if no bill is provided, based on the retail value from the dealers' guide, with deductions for any trade-in values applicable in both scenarios.

Statutes affected:
Introduced, 02/04/2026: 32-5B-4