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Started By
Message
re: Is this a loophole option?
Posted on 10/1/13 at 2:02 pm to GreenTrout
Posted on 10/1/13 at 2:02 pm to GreenTrout
They will use the sales price, but review to determine FMV (with NADA).
quote:
The Office of Motor Vehicles will collect sales/use tax on all transfers of new and used motor vehicles based on the selling price as shown on the notarized bill of sale or invoice. Louisiana state tax is 4%. Your parish and municipality tax may be determined by accessing the Parish and Municipality Tax Table. The total tax charged will include state, parish and municipality if applicable.
Sales/use tax can be assessed on an amount lower than the fair market value if the vehicle has sustained major mechanical or body damage. Documentation regarding this must be presented along with the file.
If a vehicle is purchased through a dealer, the sales tax is based on the total selling price, including any shipping or dealer prep fees less the trade-in (trade-in must be in seller's name and registered in Louisiana) or rebates, if any.
Upon moving to Louisiana new residents must register their vehicles immediately and are subject to the payment of a use tax based on the fair market value. A maximum of 4% credit may be allowed for a similar tax paid in another state against taxes due in Louisiana provided Louisiana has a reciprocal agreement with that state. Proof of payment of tax may be required.
Active duty military personnel entering Louisiana may register and title their vehicle without payment of sales/use tax. Proof must be furnished that sales tax was paid in another state, along with a copy of their military identification.
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