Posts Tagged ‘Sales Taxes’
DEsi asked:
My cousin had to go outside US for a while, so she sent her brand new car(Camry) to me. Now she is planning not to return and asked me to take over her car payments. I would like to make a full payment(about $15,000) to avoid higher APR from her bank. She owes me lot of money so she asked me to keep the car and all payments she made till now. Do I have to pay sales tax for $15000 or for the market value of the car??
My cousin had to go outside US for a while, so she sent her brand new car(Camry) to me. Now she is planning not to return and asked me to take over her car payments. I would like to make a full payment(about $15,000) to avoid higher APR from her bank. She owes me lot of money so she asked me to keep the car and all payments she made till now. Do I have to pay sales tax for $15000 or for the market value of the car??
Viv asked:
If sales taxes had already been paid when the car was new, do they need to be paid again? I know on used car sales between private parties no sales tax is assessed, but how about on a used car purchase from a dealership, i.e. Nissan, Ford, etc..
If sales taxes had already been paid when the car was new, do they need to be paid again? I know on used car sales between private parties no sales tax is assessed, but how about on a used car purchase from a dealership, i.e. Nissan, Ford, etc..
I have seen sales tax returns for car sales, and to my understanding, resale/wholesale is non-taxable, for sales tax purposes.
Thanks in advance for your help.
AND WHY DOES THIS APPLY FOR DEALERSHIPS???