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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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#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.
#900 of 947
Transferring from IN to IL by kateblake
May 17, 2009 (2:54 pm)
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Replying to: euphonium (May 12, 2009 10:18 am)

I leased my car last year in Indiana and registered/titled it there. I now need to register my car in Illinois; however, I don't want to have to pay taxes on it again.
 
The way my lease is configured, Indiana taxes are included in my monthly payments. I will continue to pay these regardless of whether my car is leased in Indiana or Illinois.
 
Does anyone know what Illinois's policy on leased cars is? The value of the car is 17,000 but I will only end up paying 9,100 on it (36 mo. lease).
 
My driver's license is also an Illinois license. Would it be cheaper to try to get an Indiana license and keep renewing in that state until my lease is up?

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