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#1
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I am a complete idiot
I bought a Camry from my boss for $2,000 about a week ago. I went to the DMV today to register the title and everything. The chick at the counter asked me how much I paid. I told her $2,000. My bill for the title was $140. I was like WTF? The chick tells me its $20 for the title and $120 for 6% sales tax. I was like "What tax?" and she tells me the tax on the $2,000 car I bought. I should have told her $250 instead of $2,000. If she asked for proof I could have said I paid cash. Gosh!
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#2
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Re: I am a complete idiot
I am pretty sure they use some sort of book value when calculating the sales tax to avoid that kind of stuff.
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#3
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Re: I am a complete idiot
[ QUOTE ]
I am pretty sure they use some sort of book value when calculating the sales tax to avoid that kind of stuff. [/ QUOTE ] nah. |
#4
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Re: I am a complete idiot
[ QUOTE ]
[ QUOTE ] I am pretty sure they use some sort of book value when calculating the sales tax to avoid that kind of stuff. [/ QUOTE ] nah. [/ QUOTE ] Whenever I've bought cars from individuals, I've always put $1. |
#5
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Re: I am a complete idiot
[ QUOTE ]
[ QUOTE ] [ QUOTE ] I am pretty sure they use some sort of book value when calculating the sales tax to avoid that kind of stuff. [/ QUOTE ] nah. [/ QUOTE ] Whenever I've bought cars from individuals, I've always put $1. [/ QUOTE ] Don't think you can get away with that here in Taxachusetts. |
#6
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Re: I am a complete idiot
It used to work in NC. When standing in line, I used to chuckle at all the people that had paid $1 or $100 for cars, but NC caught on and now uses some book value [img]/images/graemlins/frown.gif[/img]
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#7
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Re: I am a complete idiot
[ QUOTE ]
I am pretty sure they use some sort of book value when calculating the sales tax to avoid that kind of stuff. [/ QUOTE ] That's what they have here in Ontario ... it's called "fair market value." Regardless, it still ends up being a little less than what one usually pays for the vehicle. Adam |
#8
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Re: I am a complete idiot
I've bought 3 used cars here in Jersey and each time I've told them I paid $1. Just tell them it was a gift from a friend or relative.
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#9
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Re: I am a complete idiot
i am jack's complete lack of surprise
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#10
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Re: I am a complete idiot
In MD you have to show proof of relationship for the gift route and they use blue book value as the minimum tax base.
-d |
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