Do I have to pay sales tax on a gift car?
-
I live in Monroe County, NY and my friend's Dad got a replacement car and he has nothing to do with his 1999 Kia Sportage. So he wanted to give it to me, if I paid for the parts to fix it, which I did. The car is up and running and the title just needs to be transferred to my name. I have the DTF-802 form and I was looking at it. If I list it as a gift from him, (we are unrelated so I must fill out section 6) can I put the price as $0? And the tax on that would be $0? I don't think it's tax evasion because it is a gift and no one pays taxes on receiving Christmas gifts unless you bought it. Am I obligated to pay sales tax on the car itself? It's valued at $3,000 in the Kelly blue book so it doesn't qualify for the gift tax and the tax would be around $240 if sales tax did indeed apply. It is a gift so I do not think I am obligated to pay the taxes, except the tax on the registration, title, and license plates and those small fees. But MUST I pay sales tax on this gift car?
-
Answer:
you will probably have to pay the sales tax on the value when you register with the DMV recipients of gifts are not taxed on them
Aaron Smith at Yahoo! Answers Visit the source
Other answers
Yes, but get an act of donation. No tax. useually a one time thing.
Related Q & A:
- How do I get sales tax refunds from Italy?
- Do i have to pay sales tax on an ecommerce business?Best solution by Quora
- Do i have to pay council tax?Best solution by Yahoo! Answers
- No sales tax if used car is bought from an individual?Best solution by wiki.answers.com
- How much does an average car insurance company pay for a rental car?Best solution by Yahoo! Answers
Just Added Q & A:
- How many active mobile subscribers are there in China?Best solution by Quora
- How to find the right vacation?Best solution by bookit.com
- How To Make Your Own Primer?Best solution by thekrazycouponlady.com
- How do you get the domain & range?Best solution by ChaCha
- How do you open pop up blockers?Best solution by Yahoo! Answers
For every problem there is a solution! Proved by Solucija.
-
Got an issue and looking for advice?
-
Ask Solucija to search every corner of the Web for help.
-
Get workable solutions and helpful tips in a moment.
Just ask Solucija about an issue you face and immediately get a list of ready solutions, answers and tips from other Internet users. We always provide the most suitable and complete answer to your question at the top, along with a few good alternatives below.