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Paying taxes on new vehicle purchased out of state
Posted on 8/31/15 at 2:25 pm
Posted on 8/31/15 at 2:25 pm
I'm trading something in and I have to register it and pay taxes in LA after I receive the new vehicle. Does the DMV only tax me on the negotiated price of the car minus the trade value?
Posted on 8/31/15 at 2:27 pm to meeple
I bought a car in Colorado, paid no taxes on it.
Drove it to La and then paid taxes here and registered it. It wasn't a headache for me.
You are taxed on what you paid for the vehicle.
Drove it to La and then paid taxes here and registered it. It wasn't a headache for me.
quote:
Does the DMV only tax me on the negotiated price of the car minus the trade value?
You are taxed on what you paid for the vehicle.
Posted on 8/31/15 at 2:42 pm to Napoleon
quote:
You are taxed on what you paid for the vehicle
In LA you are taxed on purchase price minus trade in.
Posted on 8/31/15 at 2:44 pm to MikeBRLA
quote:
In LA you are taxed on purchase price minus trade in.
Which is what he paid for it.
Posted on 8/31/15 at 2:51 pm to Martini
quote:
Which is what he paid for it.
Depends how how you define "paid" I suppose.
Purchase price may not equal the amount "paid"(as in if there is a trade in).
Posted on 8/31/15 at 2:54 pm to MikeBRLA
I've just heard from some where people have had the KBB value quoted to them and paid tax on that. That may have just been for re-registering in a new state, or purchasing a used car though.
Posted on 8/31/15 at 2:58 pm to meeple
Taxes are for poor folks, sorry bud
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