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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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#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?
#901 of 947
Re: Transferring from IN to IL [kateblake] by euphonium
May 17, 2009 (3:36 pm)
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Replying to: kateblake (May 17, 2009 2:54 pm)

WA tax commission has same problem with WA residents leasing OR cars. It has been determined that your drivers license is the same state as where you rest your head at night. Which state is your principal residence will determine and if your insurance policy doesn't match your state license, there is a problem for you.
#902 of 947
Re: Transferring from IN to IL [kateblake] by volvomax
May 19, 2009 (8:21 am)
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Replying to: kateblake (May 17, 2009 2:54 pm)

Typically, if you change the state of registration you will change tax structure as well.
You would cease to pay IN tax and start paying IL tax. Most states charge tax on the payment,whatever that is, not on the current value of the car.
#903 of 947
Re: Transferring from IN to IL [volvomax] by kyfdx HOST
May 19, 2009 (7:22 pm)
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Replying to: volvomax (May 19, 2009 8:21 am)

On new leases, Illinois charges tax on the full purchase price.. Indiana charges on the monthly payment...
 
I have no idea what Illinois will do on an existing lease brought in from another state, but I'm thinking it won't be pretty...
#904 of 947
Re: Confusion on tax rates CHICAGO IL [volvomax] by 1stin10
Jun 26, 2009 (12:11 pm)
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Replying to: volvomax (Jun 20, 2008 1:18 pm)

Hello, I am getting ready to buy a new vehicle in Cook County this Monday. It will be registered at my home in Chicago. I am writing to say there seems to be major confusion out there about the tax rate for Chicagoans. A perfect example of that is this thread from last year.
 
As for me, the dealership is telling me my tax will be 9.25%, even though a friend also living in the city paid 8.5% last month, and the IL Dept of Revenue's online "tax finder" tool indicates that for new vehicles the State takes 7.25% and the City of Chicago takes 1.25% for a total of 8.5%. Does anyone knowledgeable about this region's vehicle sales tax know why the dealership thinks it's 9.25%? I've seen other dealers make the same claim online, so if it's legit, why doesn't the State make that info readily available?

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