Page:United States Statutes at Large Volume 107 Part 1.djvu/477

 PUBLIC LAW 103-66 —AUG. 10, 1993 107 STAT. 451 "(i) DETERMINATION OF PRICE. — The tax under this subchapter shall be computed on the lowest price for which the vehicle is sold by retailers in the ordinary course of trade. of section 4217(e)(2) shall apply. "(iii) No TAX WHERE EXEMPT USE BY LESSEE. — No tax shall be imposed on any lease payment under a long-term lease if the lessee's use of the vehicle under such lease is an exempt use (as defined in section 4003(b)) of such vehicle. "(d) DETERMINATION OF PRICE. — "(1) IN GENERAL. —In determining price for purposes of this subchapter— "(A) there shall be included any charge incident to placing the passenger vehicle in condition ready for use, "(B) there shall be excluded— "(i) the amount of the tax imposed by this subchapter, "(ii) if stated as a separate charge, the amount of any retail sales tax imposed by any State or political subdivision thereof or the District of Columbia, whether the liability for such tax is unposed on the vendor or vendee, and "(iii) the value of any component of such passenger vehicle if— "(I) such component is furnished by the Ist user of such passenger vehicle, and "(II) such component has been used before such furnishing, and "(C) the price shall be determined without regard to any trade-in. "(2) OTHER RULES. —Rules similar to the rules of paragraphs (2) and (4) of section 4052(b) shall apply for purposes of this subchapter. «SEC. 4003. SPECIAL RULES. " (a) SEPARATE PURCHASE OF VEHICLE AND PARTS AND ACCES- Regulations. SORIES THEREFOR. —Under regulations prescribed by the Secretary— "(1) IN GENERAL.—Except as provided in paragraph (2), if- "(A) the owner, lessee, or operator of any passenger vehicle installs (or causes to be installed) any part or accessory on such vehicle, and "(B) such installation is not later than the date 6 months after the date the vehicle was 1st placed in service, then there is hereby imposed on such installation a tax equal to 10 percent of the price of such part or accessory and its installation. "(2) LIMITATION.— The tax imposed by paragraph (1) on the installation of any part or accessory shall not exceed 10 percent of the excess (if any) of— "(A) the sum of— "(i) the price of such part or accessory and its installation.
 * (ii) PAYMENT OF TAX.—Rules similar to the rules

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