Rule 1320-8-17 provides credit for registration issued under the staggered system. Surrendered plates for a registration in a class with annual expiration date will be established by giving credit for one-twelfth (1/12) of the base registration fee for each month remaining by issuing the expiration date as a base. The new system fee of $1.00, the $1.00 reflectorization fee and the $ .75 officer’s fee are flat fees and are not prorated in this credit. The calculation holds true for any plate – just substitute the correct state fee in the calculation.
The system automatically calculates the credit, but in the event that the system fails to calculate the amount automatically, use the following examples to help determine the amount of the credit:
Example 1 (passenger plate):
$26.50 - state registration fee including flat fees
- 2.75 – flat fees (not refundable)
= $23.75 (state base registration fee)
Next, divide the $23.75 by 12 (months) = $1.97 per month.
Finally, multiply the months you have remaining on the registration by this figure ($1.97 in this example) to determine the total amount of the credit.
Scenario 1:
A class 1000 plate expires in December and the customer wants to exchange the plate in June. Using the calculation above, you would multiply 6 (number of months left on the registration) times $1.97, which equals $11.82. This is the amount of the credit they would receive on the new plate.
Scenario 2:
A class 2000 plate (regular personalized) expires in December and the customer wants to exchange the plate in June. Using the calculation above, you would multiply 6 (number of months left on the registration) times $1.97, which equals $11.82. This is the amount of the credit they would receive on the new plate. The personalized plate fee is not refundable.
Scenario 3:
A class 3030 plate (specialty) expires in December and the customer wants to exchange the plate in June. Using the calculation above, you would multiply 6 (number of months left on the registration) times $1.97, which equals $11.82. This is the amount of the credit they would receive on the new plate. The specialty plate fee is not refundable.
Scenario 4:
A class 2015 plate (personalized specialty) expires in December and the customer wants to exchange the plate in June. Using the calculation above, you would multiply 6 (number of months left on the registration) times $1.97, which equals $11.82. This is the amount of the credit they would receive on the new plate. The personalized and specialty plate fees are not refundable.
Example 2 (motorcycle):
$19.50 - state registration fee including flat fees
- 2.75 – flat fees (not refundable)
= $16.50 (state base registration fee)
Next, divide the $16.50 by 12 (months) = $1.38 per month.
Finally, multiply the months you have remaining on the registration by this figure ($1.38 in this example) to determine the total amount of the credit.
Scenario 1:
A motorcycle plate expires in December and the customer wants to exchange the plate in June. Using the calculation above, you would multiply 6 (number of months left on the registration) times $1.38, which equals $8.28. This is the amount of the credit they would receive on the new plate.
Example 3 (commercial bus plate class 4050):
$49.88 - state registration fee including flat fees
- 2.75 – flat fees (not refundable)
= $47.13 (state base registration fee)
Next, divide the $47.13 by 12 (months) = $3.93 per month.
Finally, multiply the months you have remaining on the registration by this figure ($1.97 in this example) to determine the total amount of the credit.
Scenario 1:
A class 4050 plate (commercial bus) expires in December and the customer wants to exchange the plate in June. Using the calculation above, you would multiply 6 (number of months left on the registration) times $3.93, which equals $23.58. This is the amount of the credit they would receive on the new plate.
Personalized/Specialty Plates
The base rate for a specialty or personalized plate will now be used rather than the full amount when calculating the license credit on O03 transactions.
Electric Vehicle Fee
O03 transactions will credit for electric vehicle fee from the previous registration. The calculation is $100 divided by 12 months ($8.33) times the number of months: (100 / 12) * number of months. The final credit amount is rounded up to the nearest $0.25.
0 Comments