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Monday, December 9, 2013

What Is A DR-123?

Florida Statute 211.08(10(a) (Exhibit A) requires auto dealers to have the DR-123, Partial Exemption for a motor vehicle sold to a resident of another state. At the time of the sale, nonresident purchasers have to complete Form DR-123, Affadivit for Partial Exemption of Motor Vehicle Sold for Licensing in Another State, which is a notarized statement of his or her intent to license the vehicle in another state within 45 days.

If the Department of Revenue examiner does not find a Notarized version of the DR-123, your dealership could be penalized with deficiency fees between 6% and what the dealer collected, plus interest, plus penalties.

Click here for the Affadivit form.

Ashton Agency sells notary bonds, and of course, DMV bonds. We also provide garage liability insurance with competitive rates. We can match or beat our competitors' prices, so contact us today for your free quote. Call (800) 451-4854 (East of the Mississippi) or (800) 452-2663 (West) and let us help you!

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