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Louisiana car registration and taxes question
Posted on 1/7/15 at 9:17 am
Posted on 1/7/15 at 9:17 am
GF originally from Mississippi purchased a car a couple years ago in MS. Moved here and is trying to register the car and they told her it would be over $1,000 bc she has to pay taxes again on the original amount.
Does this sound right? If you own an old car worth $1,000 and you move you have to pay tax on the purchase price?
Does this sound right? If you own an old car worth $1,000 and you move you have to pay tax on the purchase price?
5
Posted on 1/7/15 at 9:18 am to crazytigerfan69
Why shouldn't LA get those tax dollars?
Posted on 1/7/15 at 9:20 am to iAmBatman
Why should she be taxed twice on a car bought once?
Posted on 1/7/15 at 9:22 am to crazytigerfan69
LA needs tax money as much as MS, especially with the oil market tanking. We have to fill that gap somehow so might as well take it from people from Mississippi
Posted on 1/7/15 at 9:26 am to crazytigerfan69
The answer is yes, you will be taxed again. Total bullshite, but it's true.
Posted on 1/7/15 at 9:27 am to crazytigerfan69
quote:
Why should she be taxed twice on a car bought once?
It is my understanding that you only pay tax on the difference as if the car was originally bought in LA. IE if the other state has a tax rate of 5% and in LA its 9% , you would only pay tax on the difference (4%). Someone please correct me if I'm wrong.
Posted on 1/7/15 at 9:28 am to crazytigerfan69
If she doesn't mind the car being in your name, have her "gift" it to you and then they'll only charge you $49 to get it registered with plates, etc. That's what happened to me, at least.
Posted on 1/7/15 at 9:32 am to crazytigerfan69
quote:
she has to pay taxes again on the original amount.
that part doesn't sound right. Maybe on blue present value? the rest is correct though.
Posted on 1/7/15 at 9:34 am to crazytigerfan69
She pays a use tax based on the vehicle's current NADA value, not the original purchase price. She gets 4% credit on the state portion since Louisiana has a reciprocity agreement with Mississippi, but she has to pay the full parish use tax.
Posted on 1/7/15 at 9:37 am to TigerGrl73
quote:
She pays a use tax based on the vehicle's current NADA value, not the original purchase price. She gets 4% credit on the state portion since Louisiana has a reciprocity agreement with Mississippi, but she has to pay the full parish use tax.
This. I just did the same thing, though from a different state.
Posted on 1/7/15 at 9:39 am to TigerGrl73
Upvote to Tigergirl for some solid info.
This post was edited on 1/7/15 at 9:41 am
Posted on 1/7/15 at 9:40 am to crazytigerfan69
Unfortunately, that is correct. While in Virginia my wife purchased a car and paid sales tax on it. When we moved to Louisiana I paid Sales tax on the car again.
Three years later we moved to Illinois and I knew it would only be for a few years. I had a couple of choices.
1. Pay sales tax on the car in Illinois that I had already paid sales tax on twice. In addition when re-registering it in Louisiana pay sales tax on it a fourth time.
2. Not register the car in Illinois and eat the ticket if I got one.
I chose not to register it in Illinois and never got a ticket. I moved back to Louisiana a few years later.
No problem.
If you are going to sell the car in the near future 2-3 years, I wouldn't register it. That's just me.
Three years later we moved to Illinois and I knew it would only be for a few years. I had a couple of choices.
1. Pay sales tax on the car in Illinois that I had already paid sales tax on twice. In addition when re-registering it in Louisiana pay sales tax on it a fourth time.
2. Not register the car in Illinois and eat the ticket if I got one.
I chose not to register it in Illinois and never got a ticket. I moved back to Louisiana a few years later.
No problem.
If you are going to sell the car in the near future 2-3 years, I wouldn't register it. That's just me.
Posted on 1/7/15 at 9:53 am to zacata88
It's because of tax cheats like you the state has to do this
Posted on 1/7/15 at 10:01 am to TigerGrl73
quote:
She pays a use tax based on the vehicle's current NADA value, not the original purchase price. She gets 4% credit on the state portion since Louisiana has a reciprocity agreement with Mississippi, but she has to pay the full parish use tax.
Thanks!
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