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Appendix 2 Consolidation of Allowable Bad Debt Deduction for Multiple Repossessed Vehicles Usin...

18 CA ADC § 1642 App. 2Barclays Official California Code of Regulations

Barclays California Code of Regulations
Title 18. Public Revenues
Division 2. California Department of Tax and Fee Administration-- Business Taxes (State Board of Equalization-- Business Taxes, See Ch. 6 and 9.9)
Chapter 4. Sales and Use Tax (Refs & Annos)
Article 13. Credit Transactions (Refs & Annos)
18 CCR § 1642 App. 2
Appendix 2 Consolidation of Allowable Bad Debt Deduction for Multiple Repossessed Vehicles Using Pro Rata Method
Currentness
(A)
(B)
(C)
(D)
(E)
(F)
(G)
(H)
(I)
(J)
(K)
(L)
(M)
(N)
Date of Repossession
Car #
Sales Price of MdseA
Sales Tax (6%)
License Fee
Insurance (Net)B
Total Sales Price
Down Payment
Balance to Finance
Finance Charges (Net)C
Net Contract Balance
Payments
Value of Repossession
Repossession Loss Per Records
[C*.06]
[C...F]
[G-H]
[I+J]
[K-L-M]
09-30-00
507
$ 9,000
$ 540
$160
$200
$ 9,900
$2,000
$ 7,900
$ 400
$ 8,300
$1,900
$ 5,000
$1,400
10-27-00
521
8,000
480
140
160
8,780
1,700
7,080
350
7,430
1,650
4,400
1,380
11-04-00
540
6,000
360
110
120
6,590
1,300
5,290
260
5,550
1,250
3,300
1,000
12-09-00
575
5,000
300
90
100
5,490
1,100
4,390
200
4,590
1,000
2,700
890
Totals
$28,000
$1,680
$500
$580
$30,760
$6,100
$24,660
$1,210
$25,870
$5,800
$15,400
$4,670
(1)
(2)
(3)
[Computation of the Taxable Percentage of Loss:
$28,000(1) = 91.03%
$30,760(2)
Computation of Allowable Deduction:
91.03% x $4,670(3) = $4,251]
A Includes taxable amounts, such as doc and smog fees.
B Original insurance charge less rebate of unearned premium.
C Total finance charges per contract less unearned charges.
This database is current through 5/10/24 Register 2024, No. 19.
Cal. Admin. Code tit. 18, § 1642 App. 2, 18 CA ADC § 1642 App. 2
End of Document