[Code of Federal Regulations]

[Title 26, Volume 16]

[Revised as of April 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 26CFR48.4062(b)-1]



[Page 93]

 

                       TITLE 26--INTERNAL REVENUE

 

    CHAPTER I--INTERNAL REVENUE SERVICE, DEPARTMENT OF THE TREASURY 

                               (CONTINUED)

 

PART 48_MANUFACTURERS AND RETAILERS EXCISE TAXES--Table of Contents

 

 Subpart H_Motor Vehicles, Tires, Tubes, Tread Rubber, and Taxable Fuel

 

Sec.  48.4062(b)-1  Rebuilt parts or accessories sold on an exchange 

basis.



    The sale price of a rebuilt part or accessory on which the tax is to 

be computed shall not include the value of a like part or accessory 

accepted in exchange. The total amount charged in excess of the amount 

allowed for a like article accepted in an exchange will be the basis for 

tax. For example, if a rebuilt automobile engine is sold for $100, plus 

another automobile engine, the tax on the rebuilt engine will be 

computed on the basis of $100.



[[Page 94]]