lets say i trade the bike for another … if i tell the dmv i traded straight up for the bike… do i have to pay taxes on it? and what are the stipulations for a gift?
thanks
i think they would make you pay the full taxes on the bb value, no?
i would just say you bought it for $100 and pay $8 tax. if they give you shit about it just say it was wrecked.
I have “bought” every vehicle I’ve ever owned, including 7 or so bmw’s, a 99 civic, an 01 r6, etc for “$100.”
say you bought it for $1, that usually what you have to do to make it a legal sale
You need an affidavit of sale, or else they will bone you for the full KBB value.