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re: Used Car Purchase Fees
Posted on 8/19/14 at 4:04 pm to jeffsdad
Posted on 8/19/14 at 4:04 pm to jeffsdad
quote:
IF an individual sells a used car, is he suppose to charge for taxes
Yes.
The rate is determined by either the purchase price or fair market value of the motor vehicle. Fair market value is used when there is no stated purchase price (e.g., the motor vehicle is a gift). If the vehicle’s purchase price is less than $15,000, the tax is based on the age of the vehicle. If the vehicle’s purchase price is $15,000 or more, the tax is based on the purchase price.
In addition, there is a flat rate tax of $25 for purchases of motorcycles and all-terrain vehicles (ATVs), and $15 for purchases from certain family members, gifts to beneficiaries (not surviving spouses), and transfers in a business reorganization.
Posted on 8/19/14 at 4:06 pm to Coach Guidry
quote:
IF an individual sells a used car, is he suppose to charge for taxes?
Sorry...read this wrong. No..the seller does not charge taxes...as he is not authorized.
You pay taxes when you register the vehicle at the DMV.
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