True value of transferred firearm?
What are our obligations in use tax collection in regard to ascertaining value of a transfer? We received an interstate shipment of a firearm that is worth more than $2000. The letter included with the firearm states that the buyer purchased it for $500. Would you guys accept the sale valuation in the letter, even though it's very low and may be a misrepresentation of the price to avoid tax? Would you use the true market value of the firearm to determine the tax? What say you? What would the BOE require us to do?
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