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Message
Can someone clarify the LA donation laws
Posted on 4/4/20 at 3:49 pm
Posted on 4/4/20 at 3:49 pm
I have two assets (cars) i’d like to donate separate times (month or few apart) to a family member that total less than approx 16k value or so. Is this doable?
This post was edited on 4/4/20 at 3:57 pm
1
Posted on 4/4/20 at 5:35 pm to Chad504boy
Posted on 4/4/20 at 5:58 pm to whackinandstackin
Can I do this twice few months apart?
Posted on 4/4/20 at 7:14 pm to Chad504boy
Sounds like you trying to skirt tax laws for them to pay said taxes on vehicles a-hole. That's the reason La is number one in corruption!!!!!
Posted on 4/4/20 at 8:06 pm to Chad504boy
Are you giving the car away for free, or are you doing an "act of donation" to save on tax?
Posted on 4/4/20 at 8:14 pm to Chad504boy
There’s no law stipulating how much or how often you can donate.
Posted on 4/5/20 at 8:39 am to Chad504boy
quote:
Both going to a kid
Be sure to note that in the part of the form that asks for relationship of the parties.
I think LA exempts sales tax on donations to an individual only when it's within immediate family.
This notary site says the same:
quote:
A lot of us want to donate a vehicle because we want to avoid paying taxes on it. With a normal cash sale of a used vehicle, the buyer will pay taxes on the amount paid. Some people try to avoid making that tax payment by calling the transfer a donation. The problem is that unless the donor and donee are immediate family members (such as father/son), the state will consider it a disguised sale. You must be immediate family in Louisiana to donate vehicles between individuals!
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