Hey guys, i was looking for a thread on this but couldnt find the answer i was really looking for.
had to get a loan for 13500, for a 15000$ car.
dont want to pay 1500$ in sales tax at DMV. if i put down on a different Bill of Sale that i paid 10,000$ do you think i can get away with it? i just wasnt sure if the Bank is at all connected to DMV. thanks!
Its a 2007 WRX with 66k on it.
if u paid cash you could have put down whatever you wanted but since u took out a loan your sol and need to pay the tax on the loan
of course -_-
Probably an awesome idea to post a question like this on a public forum…
IRS doesn’t play games.
Yeah DMV will see a copy of the lien because it will go on your title. The conflicting info won’t go over well with tax and finance. Bite the bullet and pay the tax.
/\ good point, the lien will tell
meh -__- and just because im posting a question about it doesnt mean its going to take place. just getting opinions. thats allowed
its not like shes signing the MV802 with her shift log on either! lol
$1080 is due + all the fees n shit.
FU NYS
hang on. Why cant you tell the DMV that the loan was for the vehicle ammount + the sales tax ammount? I mean thats how dealers sell cars, right? Fees, Tax, Regi, etc is wrapped up into a single loan ammount.
DTF-802 but yeah fuck NY. I love how a car in its life has the potential to have more sales tax paid on it than the price it originally sold for if its resold enough.
I think it was a private sale. However dealer sales in MA are nice because any sales tax paid there is reciprocal with NY.
on the sale of the old car private, can that be considered into the tax difference between the two like dealers do? I usually just bend over and pay tax on the car i am about to regi so i never took the time to look into this crap that much
Edit: Omitted for bad info
so becasue it was private in MA its doesnt matter. If it was a dealer it would work liek I said the difference from the trade value and the selling value.
I’m just saying that, if you’re going to commit tax fraud, it’s worth asking someone in person and not on a public forum. Yea you’re right, there’s like a 99.999% chance this couldn’t be linked to his name, but it’s worth the effort to just ask someone in person. imo.
I had the Tax&Finance dept catch me on this before too, lol. So, I’m trying to spare anyone else of this matter. :rofl
so i cant figure out the difference to show that i got the loan for 13500 to pay for the car+ the sales tax?
Yes. And I just checked. If its a private sale and you trade cars with someone even if no cash is exchanged you still pay tax on the new cars value. FUNY!
appreciate the concern, its just easier to post and get a good amount of peoples responses, almost everyone has a different opinion.
I am sure OP is asking for his cousin’s girlfriend’s brother’s roommate…:rofl
You don’t have to pay tax on anything if you denounce your USA citizenship, like those actors and so called music “artist”…:rofl