Taxes and private party sales??
#1
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Taxes and private party sales??
Does anyone know if you have to pay state taxes on a used car bought from a private party? I mean I'm sure Uncle Sam wants you to but do you really have to. There must be a loop hole somewhere.
#2
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I think you have to. Though, the loop hole that you can do, is write the sale price of the car a LOT lower than what it was sold for and pay a lot less tax and pay the rest under the table.
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Originally Posted by STi-owns-evo
I think you have to. Though, the loop hole that you can do, is write the sale price of the car a LOT lower than what it was sold for and pay a lot less tax and pay the rest under the table.
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Originally Posted by spelk3
I paid $350 for a Honda GoldWing. The DMV inspector (who just happend to own the same bike and new its "real" value) gave me a dirty look and said OK.
They dont charge you sales tax, if the sale of the vehicle was $500 or less.
-Ted
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Dont go TOO low. I know in WA (this may be true in CA as well, dunno) that they compare the sale price to the blue book pricing for the car, and if its too far below, you get a nasty letter. You then have to show good proof (and a person to person receipt didn't count - had to show a cancelled check or waithdrawl receipt or something) it was sold for such a low price and the reason it wasn't worth full blue book.
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