- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Sales tax on used vehicles
Posted on 2/21/21 at 8:46 pm to Mingo Was His NameO
Posted on 2/21/21 at 8:46 pm to Mingo Was His NameO
quote:
All I can tell you is a business and an individual are treated quite differently as far as occasional sales.
There are many businesses that sell off used surplus equipment and those sales will mostly fall into the occasional sale category..no sales tax incurred on.
It differs from state to state...I know Texas and Florida occasional tax codes are different than Louisiana.
Many times companies will do a like-time exchange to avoid the capitol gains
1
Posted on 2/21/21 at 8:56 pm to tgrbaitn08
quote:
There are many businesses that sell off used surplus equipment and those sales will mostly fall into the occasional sale category..no sales tax incurred on.
They use it, but the State will sometimes try to pop you on the back end. The taxpayer is a lot of times right, but the state will assess anyway then it's a huge expensive legal process.
Posted on 2/21/21 at 9:05 pm to UnoMe
quote:I’ve posted about this before. I used to be in the used car business and am quite familiar with the racket the state has going on concerning used vehicle taxes.
Sales tax on used vehicles
I posted the exact scenario that you mentioned. I bought a 6 or 7 year old F350 from a guy and he was the second owner. He had bought it when it was like 3 years old. So the guy who initially bought it probably paid several thousand dollars in taxes, depending on if he had a trade-in or not. The guy I bought it from paid almost $40k for it and didn’t have a trade, so he paid almost $4k in taxes.
The guy I sold it to paid $25k for it and paid about $2,300 in taxes. So I guarantee the fricking state and local taxes on that truck were at least $10,000 in those 6 or 7 years.
fricking outrageous.
Posted on 2/21/21 at 10:23 pm to UnoMe
You are suppose to pay sales tax on all goods regardless of who you purchase them from.
Posted on 2/21/21 at 11:20 pm to UnoMe
At 4.45% that works be 6675.00 but yes your right and that's not even the different parishes cut either....
Posted on 2/22/21 at 12:02 am to BiggerBear
quote:Are you insane? Wasting money on the drains of society and other countries is disgusting.
Incidentally, taxes aren't robbery or even theft.
Posted on 2/22/21 at 9:41 am to tigergirl10
quote:
quote:
Incidentally, taxes aren't robbery or even theft.
quote:
Are you insane? Wasting money on the drains of society and other countries is disgusting.
No, I just know the definitions of robbery and theft. Government waste does not convert taxation into theft or robbery.
Posted on 2/22/21 at 9:42 am to tigergirl10
quote:
Are you insane? Wasting money on the drains of society and other countries is disgusting.
Do you use roads or schools?
Posted on 2/22/21 at 9:48 am to UnoMe
Does the sales tax on vehicles go to repair roads?
I guess they rationalize the tax on used vehicles because they are continually wearing down roadways.
I guess they rationalize the tax on used vehicles because they are continually wearing down roadways.
Posted on 2/22/21 at 9:51 am to UnoMe
When the vehicle is purchased new they pay tax. IF there is a trade, there tax is reduced and credited towards the new vehicle. If the second owner trades in a vehicle he gets a tax credit as well.
Point being, if they do away with taxing the purchase of a used, they would probably kill the credit when you trade.
Point being, if they do away with taxing the purchase of a used, they would probably kill the credit when you trade.
Posted on 2/22/21 at 11:17 am to UnoMe
quote:
Is there anything else that you could name you would pay taxes on that is used.
That's nothing compared to the taxes you pay on a house.
Posted on 2/23/21 at 4:15 pm to BiggerBear
quote:How did this happen?
Used items that I have paid taxes on include: Camera equipment, air compressor, rear tine tiller, table saw, cell phone, truck, Yamaha outboard, pellet rifle, and much more.
Posted on 2/24/21 at 9:17 am to Passing Wind
quote:
I know which way you vote.
No you don't.
quote:
Government’s role isn’t to “provide things”. :Freaking Face Palm:
The word "provide" is even in the preamble to the constitution which describes the very purpose of the US Government.
This post was edited on 2/24/21 at 9:18 am
Posted on 2/24/21 at 9:21 am to BiggerBear
quote:
Used items that I have paid taxes on include: Camera equipment, air compressor, rear tine tiller, table saw, cell phone, truck, Yamaha outboard, pellet rifle, and much more.
Did you buy these items at a pawn shop or retail stores that sells used junk?
Posted on 2/25/21 at 1:09 pm to Mingo Was His NameO
quote:
Your friend is not committing tax fraud for you liar
Its absolutely not tax fraud for your friends used car lot to handle the transaction.
Posted on 2/25/21 at 1:12 pm to UnoMe
quote:Poontang
Is there anything else that you could name you would pay taxes on that is used.
Undefeated errywhere except College Station.
Posted on 2/25/21 at 1:13 pm to LSUTigerFan247
quote:
Its absolutely not tax fraud for your friends used car lot to handle the transaction
What you described is absolutely fraud and could be found in about 15 seconds.
Posted on 2/25/21 at 1:14 pm to OysterPoBoy
quote:
It’s almost free to start a business. Print up some cards that say UnoMe’s car buying business.
So that's all it takes huh? Just print off some business cards and ready to roll
Posted on 2/25/21 at 1:16 pm to jchamil
quote:
So that's all it takes huh? Just print off some business cards and ready to roll
So much lying and misinformation in this thread. I'll never understand people that make shite up that anyone with a lick of knowledge in the subject could sniff from a mile away.
Posted on 2/25/21 at 1:18 pm to Mingo Was His NameO
quote:
What you described is absolutely fraud and could be found in about 15 seconds.
I'm not following how a friend that is a dealer doing a "trade" would help the buyer with any tax stuff.
Courtesy trades are a pretty common thing, but I assume that's not what he's talking about based on the context of the thread.
Or maybe that's what he's referring to
Page 3 of 4
Popular
Back to top
Follow TigerDroppings for LSU Football News