Any vehicle flippers?

[steve2039]

My brother just bought a car and only had to pay tag fee as well. A few weeks later he got a letter from the state stating that he will need to pay sales tax on the car. Guess it's a transitional period right now.

How do they determine taxable value? ie if I buy a running vehicle for 1k that is booked at 4k, are they going off book or just pulling a number out of nowhere?

 

[Hasselhoss]

How do they determine taxable value? ie if I buy a running vehicle for 1k that is booked at 4k, are they going off book or just pulling a number out of nowhere?

If you purchase a car between January 1, 2012 and March 1, 2013 you will have the opportunity to opt-into the program after it begins on March 1, 2013 (but before December 31, 2013). You will have to pay the difference between the sales tax that you paid when you purchased the car (if you live in a 6% county).

 

[cvpadge]

My brother just bought a car and only had to pay tag fee as well. A few weeks later he got a letter from the state stating that he will need to pay sales tax on the car. Guess it's a transitional period right now.

Just got the letter today. What a crock of ****. Do we still have to pay yearly taxes as well?