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TITLE 34PUBLIC FINANCE
PART 1COMPTROLLER OF PUBLIC ACCOUNTS
CHAPTER 3TAX ADMINISTRATION
SUBCHAPTER FMOTOR VEHICLE SALES TAX
RULE §3.62Insurance Settlements

The motor vehicle sales and use tax is not due where an insurance company takes title to a motor vehicle as a result of a total loss settlement or a stolen vehicle which was later recovered, because the transaction in which an insurance company obtains title to a motor vehicle in return for an insurance settlement is not considered a sale. The motor vehicle sales and use tax is due when the insurance company purchases a replacement motor vehicle for the insured on a total loss or stolen vehicle claim.


Source Note: The provisions of this §3.62 adopted to be effective January 1, 1976; amended to be effective September 29, 1978, 3 TexReg 3249.

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