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Vehicle Sales Tax Questions

947 messages,  Last post on Nov 23, 2009 at 10:05 AM

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What is this discussion about? Car Financing, Car Leasing


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#889 of 947
SC sales tax but live in CO by jjcooper0803
Apr 21, 2009 (6:55 pm)
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I have kind of a different situation. My F I L lives in SC where my husband still has an account with a bank that will finance us. Also my F I L still has a car registered in my husbands name, so we have SC license plates. So if we buy a car in SC and register it there at his parents house with his plates, will we get away with paying the $300 cap on sales tax? Then when we register it after a year in CO, we actually have Disabled Vet plates that we can transfer to the new car which will cost us nothing also. Does this sound plausible?
#890 of 947
Re: SC sales tax but live in CO [jjcooper0803] by tidester HOST
Apr 21, 2009 (8:49 pm)
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Replying to: jjcooper0803 (Apr 21, 2009 6:55 pm)

Then when we register it after a year in CO...
 
If you're living in CO, I believe the state requires that you register within 30 days.
 
tidester, host
SUVs and Smart Shopper
#891 of 947
Re: SC sales tax but live in CO [jjcooper0803] by joel0622
Apr 24, 2009 (9:40 am)
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Replying to: jjcooper0803 (Apr 21, 2009 6:55 pm)

Anytime you ask the question "will we get away with " You are rolling the dice. It could end up costing you 10X what the original tax in colorado would have cost you if you had done it the right way to start with.
#892 of 947
state sales tax by thecore1234
May 10, 2009 (3:46 pm)
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Iam buying a vehicle out of new york to mass.Is there a way to save on state sales tax? if the person sells it for a $1 does that have an effect on the tax?
#893 of 947
Re: state sales tax [thecore1234] by euphonium
May 11, 2009 (8:14 am)
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Replying to: thecore1234 (May 10, 2009 3:46 pm)

Fraud prevention has caused the states to use "Value" tables or some publication like KBB.
 
If Obama can reach the "offshore" treasuries of complicated corporations, it stands to follow socialists at all levels of government can do likewise. Tax, tax, tax!
#894 of 947
Re: state sales tax [thecore1234] by dtownfb
May 11, 2009 (8:22 am)
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Replying to: thecore1234 (May 10, 2009 3:46 pm)

I think states like NY and Mass. have taken steps to address people "claiming" to buy a vehicle for $1 or even $1000 to avoid state sales tax. I believe Mass. have adopted a policy of using the estimated book value of the used vehicle to determine state sales tax for private sales.
 
I would check the state's respective DMV websites to verify how they determine sales tax.
#895 of 947
Gifting in NY by heropuppy
May 11, 2009 (4:05 pm)
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My husband is gifting his SUV to my mom. It is registered in MI and my mom lives in NY. Will she have to pay NY sales tax? What can we do to avoid getting taxed? The KBB value is $4825.
#896 of 947
Re: Gifting in NY [heropuppy] by tidester HOST
May 11, 2009 (7:20 pm)
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Replying to: heropuppy (May 11, 2009 4:05 pm)

I believe that you will at least have to pay a gift tax but these things vary from state to state. Perhaps someone with specific knowledge will jump in and offer guidance. Anyone?
 
tidester, host
SUVs and Smart Shopper
#897 of 947
Re: Gifting in NY [heropuppy] by euphonium
May 12, 2009 (10:18 am)
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Replying to: heropuppy (May 11, 2009 4:05 pm)

He may have to transfer ownership to you so you can "gift" it to your mother as he is not a "blood" relative to her. Papers supporting the relationship will be needed too.

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