Automotive Private Sale Taxes

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  #16  
Old 02-13-2020, 06:28 AM
Stevieb1 Stevieb1 is offline
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Is sales tax based on the purchase price written in the bill of sale or NADA book value of car? Thanks
  #17  
Old 02-13-2020, 07:07 AM
Michael Charles
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Quote:
Originally Posted by Stevieb1 View Post
Is sales tax based on the purchase price written in the bill of sale or NADA book value of car? Thanks
I once bought a used car (for a price that was much lower than it's NADA book value) that price was listed on the bill of sale. The clerk then said the price listed was well under book value then proceeded to charge me tax on the NADA book value. I had no recourse the tax assessor said. People always try to get away with listing a lower selling price in order to pay less tax.
  #18  
Old 02-13-2020, 09:30 PM
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villagetinker villagetinker is offline
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You may also find that you cannot insure the car for a value ABOVE the sale price, had this happen to a friend back up North, ended up being a mess.
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  #19  
Old 02-16-2020, 12:06 AM
Rich42 Rich42 is offline
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Hello! Ever think of calling motor vehicle and asking.
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automotive, sale, taxes, private, amount

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