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re: Is this a loophole option?
Posted on 10/1/13 at 2:11 pm to LSUengineer12
Posted on 10/1/13 at 2:11 pm to LSUengineer12
quote:
Well apparently it doesn't matter what the price is on the Bill of Sale if they tax based on the NADA value..
Which I'm not sure if that's entirely correct.
I bought a motorcycle a few months ago that was used with 1.4 miles on it from a private seller. sticker prices was $4800, and we put $1000 on the bill of sale. I paid taxes only on $1000. They don't look up the NADA value.
1
Posted on 10/1/13 at 2:23 pm to LNCHBOX
quote:
I bought a motorcycle a few months ago that was used with 1.4 miles on it from a private seller. sticker prices was $4800, and we put $1000 on the bill of sale. I paid taxes only on $1000. They don't look up the NADA value.
Well what did you buy the bike for?
And the OP was saying he would put $100 on a $5,000 car. DMV is going to know that a 2004 Jeep Cherokee is worth more than $100, even as a salvage vehicle.
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