Tax sales!!???
Q. I have heard of this new or not new thing called a tax sale. I was wondering if people made money, and if it's possible in Texas. I really wanted to earn money with this, and I'm also asking if it is cheaper than buying a house and remodelling and waiting for years.
Asked by FL!PBOY! - Sun Nov 26 16:57:09 2006 - - 2 Answers - 1 Comments
A. A tax sale is when you buy property that someone is not paying the taxes on. You simply pay the back taxes. Depending on the laws where you are, the original owner can come foward within a certain amount of time and pay all the taxes that are due. In that case they get the property back, and you get the tax money.
Answered by Chic - Sun Nov 26 17:07:11 2006
Q. I have heard of this new or not new thing called a tax sale. I was wondering if people made money, and if it's possible in Texas. I really wanted to earn money with this, and I'm also asking if it is cheaper than buying a house and remodelling and waiting for years.
Asked by FL!PBOY! - Sun Nov 26 16:57:09 2006 - - 2 Answers - 1 Comments
A. A tax sale is when you buy property that someone is not paying the taxes on. You simply pay the back taxes. Depending on the laws where you are, the original owner can come foward within a certain amount of time and pay all the taxes that are due. In that case they get the property back, and you get the tax money.
Answered by Chic - Sun Nov 26 17:07:11 2006
Where can I find goverment property tax sales?
Q. Looking for homes to buy that have been seized by the goverment because of unpaid prperty tax. How can I get lists of homes that are available for goverment tax sales.
Asked by leescorpio2004 - Wed Oct 11 09:35:53 2006 - - 2 Answers - 0 Comments
A. Combined lists are sold by proprietary services. Otherwise you have to check the Web sites and offices of the local tax authorities that interest you. See for example:
Answered by Andy - Wed Oct 11 09:39:30 2006
Q. Looking for homes to buy that have been seized by the goverment because of unpaid prperty tax. How can I get lists of homes that are available for goverment tax sales.
Asked by leescorpio2004 - Wed Oct 11 09:35:53 2006 - - 2 Answers - 0 Comments
A. Combined lists are sold by proprietary services. Otherwise you have to check the Web sites and offices of the local tax authorities that interest you. See for example:
Answered by Andy - Wed Oct 11 09:39:30 2006
What risks are involved in buying tax sales?
Q. Name the risks involved in buying tax sales at a county auction... I am not talking about tax lien certificates.
Asked by TraderPat - Sat Apr 22 23:40:12 2006 - - 2 Answers - 0 Comments
A. There is a good chance that after all the research you have done to find a tax lien property, the property may be redeemed by the owner just prior to the sale. Since the bids are sealed you don't know what the other bidders are offering and if you have not properly determined the market value, you may overbid on a piece of property.
Answered by bzybl1680 - Sun Apr 23 00:06:57 2006
Q. Name the risks involved in buying tax sales at a county auction... I am not talking about tax lien certificates.
Asked by TraderPat - Sat Apr 22 23:40:12 2006 - - 2 Answers - 0 Comments
A. There is a good chance that after all the research you have done to find a tax lien property, the property may be redeemed by the owner just prior to the sale. Since the bids are sealed you don't know what the other bidders are offering and if you have not properly determined the market value, you may overbid on a piece of property.
Answered by bzybl1680 - Sun Apr 23 00:06:57 2006
Is sales tax charged on Income tax preparation in Ohio?
Q. When someone gets their income taxes done (specifically in Ohio) is there a sales tax that is added to the cost of the preparers fees. If so is it charged on the total amount due/refunded or on the charge for the tax preparation itself?
Asked by Donald C - Mon Jan 7 19:08:33 2008 - - 1 Answers - 0 Comments
A. Looking at the ohio state tax faq section, Tax prep is not listed as a service subject to the sales tax, so I was say, no, preperation of a tax return isn't subject to sales tax in Ohio. I hope that helps.
Answered by Michael K - Tue Jan 8 16:34:45 2008
Q. When someone gets their income taxes done (specifically in Ohio) is there a sales tax that is added to the cost of the preparers fees. If so is it charged on the total amount due/refunded or on the charge for the tax preparation itself?
Asked by Donald C - Mon Jan 7 19:08:33 2008 - - 1 Answers - 0 Comments
A. Looking at the ohio state tax faq section, Tax prep is not listed as a service subject to the sales tax, so I was say, no, preperation of a tax return isn't subject to sales tax in Ohio. I hope that helps.
Answered by Michael K - Tue Jan 8 16:34:45 2008
What tax do I pay when living in a state without a sales tax?
Q. If I live in NH which does not have a sales tax and buy an auto in MA which does have a sales tax do I pay MA sales tax or would there be no sales tax due to the fact the car would be registered in NH?
Asked by cheryl m - Sat Jun 2 17:02:05 2007 - - 6 Answers - 1 Comments
A. Since the sales tax is paid to the registering authority not the dealer, you'd only pay MA sales tax if you registered it in MA. MA doesn't have a temp tag system so you'll need to get your tags in NH first before you take delivery. If you tag it in MA for the trip back to NH, you will have to pay the MA tax.
Answered by Bostonian In MO - Sat Jun 2 17:15:35 2007
Q. If I live in NH which does not have a sales tax and buy an auto in MA which does have a sales tax do I pay MA sales tax or would there be no sales tax due to the fact the car would be registered in NH?
Asked by cheryl m - Sat Jun 2 17:02:05 2007 - - 6 Answers - 1 Comments
A. Since the sales tax is paid to the registering authority not the dealer, you'd only pay MA sales tax if you registered it in MA. MA doesn't have a temp tag system so you'll need to get your tags in NH first before you take delivery. If you tag it in MA for the trip back to NH, you will have to pay the MA tax.
Answered by Bostonian In MO - Sat Jun 2 17:15:35 2007
What is the statewide sales tax in Ohio?
Q. I understand that the sales tax varies by county. However for those selling online, no matter what area in the state the sales tax remains the same. What is the statewide sales tax in Ohio, or are these websites simply charging 7.5% and taking care of their taxes that way?
Asked by xtrafile7 - Fri Jun 13 13:51:54 2008 - - 1 Answers - 0 Comments
A. No, for those selling online, the sales tax rate is that of the county in which the goods are delivered.
Answered by neoplop - Fri Jun 13 23:36:09 2008
Q. I understand that the sales tax varies by county. However for those selling online, no matter what area in the state the sales tax remains the same. What is the statewide sales tax in Ohio, or are these websites simply charging 7.5% and taking care of their taxes that way?
Asked by xtrafile7 - Fri Jun 13 13:51:54 2008 - - 1 Answers - 0 Comments
A. No, for those selling online, the sales tax rate is that of the county in which the goods are delivered.
Answered by neoplop - Fri Jun 13 23:36:09 2008
Is it legal to charge sales tax on money that is being used to repay tax exempt bonds?
Q. Our community issued tax exempt bonds to build improvements to the utility system. A portion of our utility bill goes to repay that tax exempt bond. However, we are charged sales tax on ALL of the utility bill. Is this legal under the IRS and SEC rules, or should they be exempting a pro-rated portion of the bill from sales taxes? Our city does not receive revenue from property tax. The property tax goes to the school district. The city is operated from 2 sources of revenue: the profit on the city-operated electric, water, and gas utility and the proceeds from a 1.5% sales tax.
Asked by Sophia - Sun Aug 26 11:28:44 2007 - - 4 Answers - 0 Comments
A. Of course it is!! Why do you think it would not be? Is it possible that you are thinking that this is an example of "paying tax on tax", which common sense says ain't right? The benefit of tax exempt bonds is to the bond-holder, who does not have to pay income tax on the bond interest. The "tax exempt" status has no direct impact on the issuer, your city, (other than allowing it to issue bonds at a lower interest rate, all other things being equal.) You actually benefit because the lower interest reduces the expense of providing the gas, electricity or water, etc and with it the price you pay. If I pay sales tax on a bottle of Pepsi some of the cost of the Pepsi is interest that the Corp pays on its bonds. Why would your city not have… [cont.]
Answered by Hank Roitman, EA - Fri Aug 31 01:45:31 2007
Q. Our community issued tax exempt bonds to build improvements to the utility system. A portion of our utility bill goes to repay that tax exempt bond. However, we are charged sales tax on ALL of the utility bill. Is this legal under the IRS and SEC rules, or should they be exempting a pro-rated portion of the bill from sales taxes? Our city does not receive revenue from property tax. The property tax goes to the school district. The city is operated from 2 sources of revenue: the profit on the city-operated electric, water, and gas utility and the proceeds from a 1.5% sales tax.
Asked by Sophia - Sun Aug 26 11:28:44 2007 - - 4 Answers - 0 Comments
A. Of course it is!! Why do you think it would not be? Is it possible that you are thinking that this is an example of "paying tax on tax", which common sense says ain't right? The benefit of tax exempt bonds is to the bond-holder, who does not have to pay income tax on the bond interest. The "tax exempt" status has no direct impact on the issuer, your city, (other than allowing it to issue bonds at a lower interest rate, all other things being equal.) You actually benefit because the lower interest reduces the expense of providing the gas, electricity or water, etc and with it the price you pay. If I pay sales tax on a bottle of Pepsi some of the cost of the Pepsi is interest that the Corp pays on its bonds. Why would your city not have… [cont.]
Answered by Hank Roitman, EA - Fri Aug 31 01:45:31 2007
How much is the sales/local tax Avon charges its customers after an order is placed?
Q. I am a new representative and my kit doesn't have a sales tax chart. So what is the percentage of sales tax that I should charge customers and how would I calculate the tax into the amount before taxes (the subtotal)?
Asked by dreamgirl L - Thu Apr 17 04:15:25 2008 - - 2 Answers - 0 Comments
A. It is whatever your local sales tax is. What tax do you pay when you buy things from the store? If you are unsure, you could probably look it up somewhere online. Once you figure out what your city's sales tax is, just take the amount owed (before tax) and multiply it by the percentage, to figure out how much you need to add to your subtotal. For instance, if your customer ordered $10 worth of products, and you have 9% sales tax, you would do: 10 x 0.09 = .9 So then you would do: 10 + .9 = 10.9 And your total would be $10.90. Generally, most totals don't work out to an even number like my example did, so you would have to round to the nearest penny (of course you can't charge a 100th of a penny!) so in that case, 5-9 rounds up, 1-4… [cont.]
Answered by Amber Lee - Thu Apr 17 18:17:13 2008
Q. I am a new representative and my kit doesn't have a sales tax chart. So what is the percentage of sales tax that I should charge customers and how would I calculate the tax into the amount before taxes (the subtotal)?
Asked by dreamgirl L - Thu Apr 17 04:15:25 2008 - - 2 Answers - 0 Comments
A. It is whatever your local sales tax is. What tax do you pay when you buy things from the store? If you are unsure, you could probably look it up somewhere online. Once you figure out what your city's sales tax is, just take the amount owed (before tax) and multiply it by the percentage, to figure out how much you need to add to your subtotal. For instance, if your customer ordered $10 worth of products, and you have 9% sales tax, you would do: 10 x 0.09 = .9 So then you would do: 10 + .9 = 10.9 And your total would be $10.90. Generally, most totals don't work out to an even number like my example did, so you would have to round to the nearest penny (of course you can't charge a 100th of a penny!) so in that case, 5-9 rounds up, 1-4… [cont.]
Answered by Amber Lee - Thu Apr 17 18:17:13 2008
Should I credit sales tax on uncollectible receivables?
Q. When calculating sales tax on your sales, is it proper to deduct for uncollectible accounts receivable the way we can on income tax? I'm talking about when the debt has already been written off.
Asked by robertspraguejr - Wed Dec 5 15:54:36 2007 - - 2 Answers - 0 Comments
A. In my state, California, the tax is the tax rate times the amount collected so TR times zero = zero.
Answered by wartz - Wed Dec 5 17:39:00 2007
Q. When calculating sales tax on your sales, is it proper to deduct for uncollectible accounts receivable the way we can on income tax? I'm talking about when the debt has already been written off.
Asked by robertspraguejr - Wed Dec 5 15:54:36 2007 - - 2 Answers - 0 Comments
A. In my state, California, the tax is the tax rate times the amount collected so TR times zero = zero.
Answered by wartz - Wed Dec 5 17:39:00 2007
What is the sales tax on new vehicles purchased in Pennsylvania?
Q. What is the sales tax for a normal car? What is the sales tax for luxury cars? At what price point do they consider a car to be "luxury" car?
Asked by Alex - Sat May 26 16:39:13 2007 - - 1 Answers - 0 Comments
A. The sales tax is 6% for any car tagged in PA. Does not matter what kind, price of car.
Answered by carman - Sat May 26 17:00:32 2007
Q. What is the sales tax for a normal car? What is the sales tax for luxury cars? At what price point do they consider a car to be "luxury" car?
Asked by Alex - Sat May 26 16:39:13 2007 - - 1 Answers - 0 Comments
A. The sales tax is 6% for any car tagged in PA. Does not matter what kind, price of car.
Answered by carman - Sat May 26 17:00:32 2007
Can Floridians deduct state sales tax from federal income taxes and how is total sales tax calculated?
Q. I want to deduct the sales tax on the car I bought this year as well as other sales tax paid throughout the year. Isn't this allowable for residents of states like FL that don't have a state income tax to deduct?
Asked by dailbert - Sun Apr 8 17:29:02 2007 - - 2 Answers - 1 Comments
A. Yes, you can deduct state sales tax from federal income taxes on Schedule A - Itemized Deductions - Line 5. That deduction was supposed to expire for 2006, but Congress renewed it. If you are using a tax program you should be able to indicate what state you paid the sales tax for, and also should be able to add in any sales taxes paid for large purchases. If you don't have a tax program try going on-line to the IRS website, www.irs.gov, and they should have a worksheet for you to fill out to calculate your sales tax paid.
Answered by PepsiLime - Sun Apr 8 17:41:00 2007
Q. I want to deduct the sales tax on the car I bought this year as well as other sales tax paid throughout the year. Isn't this allowable for residents of states like FL that don't have a state income tax to deduct?
Asked by dailbert - Sun Apr 8 17:29:02 2007 - - 2 Answers - 1 Comments
A. Yes, you can deduct state sales tax from federal income taxes on Schedule A - Itemized Deductions - Line 5. That deduction was supposed to expire for 2006, but Congress renewed it. If you are using a tax program you should be able to indicate what state you paid the sales tax for, and also should be able to add in any sales taxes paid for large purchases. If you don't have a tax program try going on-line to the IRS website, www.irs.gov, and they should have a worksheet for you to fill out to calculate your sales tax paid.
Answered by PepsiLime - Sun Apr 8 17:41:00 2007
Does a State with no sales tax make the wealthy richer?
Q. I believe that Florida is a heaven for the rich and more difficult for the middle and low income population. Add up your sales taxes for the year and you would be suprised of how much of a low income family income goes for that tax. It is nothing for the wealthy. Doing away with the sale tax and imposing an income tax would hit the huge incomes of the wealthy much more then the poor. Lets get rid of the sales tax and get the income tax.
Asked by logicmarty - Wed Apr 23 08:39:25 2008 - - 4 Answers - 1 Comments
A. My sentiments exactly -- and the key reason that the grossly mis-named "Fair Tax" has ZERO chance of EVER becoming law. It's languished in committee in the House for a decade for good reason -- politics. The proponents can claim to be trying to do something, but they know full well that it will never reach a vote as it would be exposed for folly that it is if it were debated publicly on the floor. The wealthy love sales taxes and hate income taxes for very good reason. Sales taxes cost them FAR less tax in the long run than an intelligently implemented graduated income tax.
Answered by Bostonian In MO - Wed Apr 23 08:49:55 2008
Q. I believe that Florida is a heaven for the rich and more difficult for the middle and low income population. Add up your sales taxes for the year and you would be suprised of how much of a low income family income goes for that tax. It is nothing for the wealthy. Doing away with the sale tax and imposing an income tax would hit the huge incomes of the wealthy much more then the poor. Lets get rid of the sales tax and get the income tax.
Asked by logicmarty - Wed Apr 23 08:39:25 2008 - - 4 Answers - 1 Comments
A. My sentiments exactly -- and the key reason that the grossly mis-named "Fair Tax" has ZERO chance of EVER becoming law. It's languished in committee in the House for a decade for good reason -- politics. The proponents can claim to be trying to do something, but they know full well that it will never reach a vote as it would be exposed for folly that it is if it were debated publicly on the floor. The wealthy love sales taxes and hate income taxes for very good reason. Sales taxes cost them FAR less tax in the long run than an intelligently implemented graduated income tax.
Answered by Bostonian In MO - Wed Apr 23 08:49:55 2008
Does a sales tax license need to be renewed?
Q. I live in Louisiana and I am wondering if a sales tax license needs to be renewed. I don't think it does, but just want to make sure. Also, what all is needed to be legal doing online sales on eBay?
Asked by curiouscat - Tue Feb 5 02:12:22 2008 - - 1 Answers - 0 Comments
A. Sales tax licenses are regulated by each individual state. Generally, they do not have to be renewed. I couldn't find anyting on Louisiana that indicates they expire. To sell on eBay, you don't need any kind of license. You are supposed to collect sales tax to the people in Lousiana who purchase your goods, and for that you need a tax number. You then must turn that tax over to the state treasurer by filing a sales tax return each month. Of the many people I know who sell on eBay, none of them collect sales taxes. If you are a corporation selling on eBay, then you collect taxes from anyone who purchases your merchandise and is also in a state in which you have a business presence.
Answered by intheleast - Tue Feb 5 02:26:38 2008
Q. I live in Louisiana and I am wondering if a sales tax license needs to be renewed. I don't think it does, but just want to make sure. Also, what all is needed to be legal doing online sales on eBay?
Asked by curiouscat - Tue Feb 5 02:12:22 2008 - - 1 Answers - 0 Comments
A. Sales tax licenses are regulated by each individual state. Generally, they do not have to be renewed. I couldn't find anyting on Louisiana that indicates they expire. To sell on eBay, you don't need any kind of license. You are supposed to collect sales tax to the people in Lousiana who purchase your goods, and for that you need a tax number. You then must turn that tax over to the state treasurer by filing a sales tax return each month. Of the many people I know who sell on eBay, none of them collect sales taxes. If you are a corporation selling on eBay, then you collect taxes from anyone who purchases your merchandise and is also in a state in which you have a business presence.
Answered by intheleast - Tue Feb 5 02:26:38 2008
How do you figure out the sales tax when it is included in the sales price?
Q. Example: Sales Price with sales tax included is $98.95 and the sales tax is 5%.
Asked by disciple_114 - Tue Jun 17 14:52:36 2008 - - 4 Answers - 0 Comments
A. good question
Answered by susie - Tue Jun 17 18:04:57 2008
Q. Example: Sales Price with sales tax included is $98.95 and the sales tax is 5%.
Asked by disciple_114 - Tue Jun 17 14:52:36 2008 - - 4 Answers - 0 Comments
A. good question
Answered by susie - Tue Jun 17 18:04:57 2008
Charging sales tax to customers who live out of my state?
Q. Hi, I own a small store. Many of my customers come in and look at items for sale. They ask me to ship it to them out of my state to their real address. They pay for the item from there home out of state with their credit card or mail me a check.They really live there and I'm actually REALLY shipping the item to them. Am I required to charge them my states sales tax? My understanding is they are responsible to pay their state tax.
Asked by r C - Tue Jul 29 10:34:47 2008 - - 4 Answers - 0 Comments
A. If you have "nexus" in the customer's state, then you have to collect their sales tax. As a small store, the only probable source of nexus would be that if you _direct_ advertising to an (adjacent) state, you'd have nexus. National advertising or focused advertising not specifically directed to an area in another state doesn't count. Otherwise, you're correct. You have no obligation to collect your (state's) or their (state's) sales tax.
Answered by Arthur R - Tue Jul 29 12:48:53 2008
Q. Hi, I own a small store. Many of my customers come in and look at items for sale. They ask me to ship it to them out of my state to their real address. They pay for the item from there home out of state with their credit card or mail me a check.They really live there and I'm actually REALLY shipping the item to them. Am I required to charge them my states sales tax? My understanding is they are responsible to pay their state tax.
Asked by r C - Tue Jul 29 10:34:47 2008 - - 4 Answers - 0 Comments
A. If you have "nexus" in the customer's state, then you have to collect their sales tax. As a small store, the only probable source of nexus would be that if you _direct_ advertising to an (adjacent) state, you'd have nexus. National advertising or focused advertising not specifically directed to an area in another state doesn't count. Otherwise, you're correct. You have no obligation to collect your (state's) or their (state's) sales tax.
Answered by Arthur R - Tue Jul 29 12:48:53 2008
Are the sales tax for the remodeling of kitchen tax dedeuctable?
Q. We have remodeled oue kitchen in 2007. I we like to know out of curiosity if the sales tax paid for the kitchen applience,(dishwasher, microwave and stove) the cabienates and the counter top can be deducted from our taxes in this year?
Asked by AVO Y - Sun Feb 10 22:46:39 2008 - - 3 Answers - 0 Comments
A. not until 2113
Answered by Harris G - Sun Feb 10 22:48:42 2008
Q. We have remodeled oue kitchen in 2007. I we like to know out of curiosity if the sales tax paid for the kitchen applience,(dishwasher, microwave and stove) the cabienates and the counter top can be deducted from our taxes in this year?
Asked by AVO Y - Sun Feb 10 22:46:39 2008 - - 3 Answers - 0 Comments
A. not until 2113
Answered by Harris G - Sun Feb 10 22:48:42 2008
If I filed a sales tax return in January do I have to include that in my income taxes?
Q. I did some cleaning on the side to make some extra money. I made $2400 in 6 months in 2007. I have a sales tax licsense and I filed that already. My question is do I have to bring the sales tax return to my tax preparer and is it going to be reflected in my return?
Asked by Ashley B - Sat Jan 12 13:52:18 2008 - - 4 Answers - 0 Comments
A. You have to include the income from the cleaning job. You will also be able to deduct legitimate expenses. So take all related paperwork for the cleaning job to your tax preparer.
Answered by bdancer222 - Sat Jan 12 13:57:57 2008
Q. I did some cleaning on the side to make some extra money. I made $2400 in 6 months in 2007. I have a sales tax licsense and I filed that already. My question is do I have to bring the sales tax return to my tax preparer and is it going to be reflected in my return?
Asked by Ashley B - Sat Jan 12 13:52:18 2008 - - 4 Answers - 0 Comments
A. You have to include the income from the cleaning job. You will also be able to deduct legitimate expenses. So take all related paperwork for the cleaning job to your tax preparer.
Answered by bdancer222 - Sat Jan 12 13:57:57 2008
Do you pay Sales Tax when purchase Vehicle to ship Overseas?
Q. Please let me know, What taxes do you pay, if any, when purchase vehicle to ship Overseas-another country? Sales Tax? Property tax? Any tax? Thank you.
Asked by Vlad G - Sat Dec 29 18:35:57 2007 - - 1 Answers - 0 Comments
A. That depends on who is doing the shipping. If you ship the vehicle yourself, then you will pay sales tax at the dealership or when you transfer the title to your name. Then, you will owe any tax in the other country when you register the vehicle there.
Answered by Steve - Sat Dec 29 18:53:54 2007
Q. Please let me know, What taxes do you pay, if any, when purchase vehicle to ship Overseas-another country? Sales Tax? Property tax? Any tax? Thank you.
Asked by Vlad G - Sat Dec 29 18:35:57 2007 - - 1 Answers - 0 Comments
A. That depends on who is doing the shipping. If you ship the vehicle yourself, then you will pay sales tax at the dealership or when you transfer the title to your name. Then, you will owe any tax in the other country when you register the vehicle there.
Answered by Steve - Sat Dec 29 18:53:54 2007
Are online purchases included in the Sales Tax Holiday even if the retailer is located outside the state?
Q. The NC Sales Tax Holiday is this weekend. I am wondering whether I can buy a computer online from Dell and still not have to pay sales tax. Thanks!
Asked by j man - Wed Jul 30 13:59:37 2008 - - 1 Answers - 1 Comments
A. If Dell has no NC nexus then they won't charge sales tax on any shipments to NC at any time. If they do have a NC nexus, then on-line purchases are eligible for the exemption from tax during the tax holiday period. See page 15 et seq of this link for further information: Page 22 deals specifically with "remote sellers."
Answered by Bostonian In MO - Wed Jul 30 15:07:13 2008
Q. The NC Sales Tax Holiday is this weekend. I am wondering whether I can buy a computer online from Dell and still not have to pay sales tax. Thanks!
Asked by j man - Wed Jul 30 13:59:37 2008 - - 1 Answers - 1 Comments
A. If Dell has no NC nexus then they won't charge sales tax on any shipments to NC at any time. If they do have a NC nexus, then on-line purchases are eligible for the exemption from tax during the tax holiday period. See page 15 et seq of this link for further information: Page 22 deals specifically with "remote sellers."
Answered by Bostonian In MO - Wed Jul 30 15:07:13 2008
How is Sales Tax computed when you buy a car?
Q. When buying a car from a dealer, you must pay sales tax, of course. What I am curious is how they figure the amount of tax you must pay. Is it computed on just the price of the car, or the price of the car plus the Destination Charge? I would think it is different by state, and I live in Georgia. Thank you.
Asked by Jeff - Wed Jul 8 15:31:50 2009 - - 4 Answers - 0 Comments
A. Sales tax rates are different for every state and in some states even vary by county. It is computed based on the agreed-upon price of the car, including the destination. In some states (not all), if you have a trade, the taxable amount is based on the agreed-upon price minus the amount of your trade. Rebates are taxable, which means that any amount that is being taxed is taken into account before the rebates are applied. Even if you buy it from a private party, you will still need to pay taxes at the DMV when you go register the vehicle. These taxes will be based on the fair market value of the vehicle.
Answered by Stupid Flanders - Wed Jul 8 15:45:25 2009
Q. When buying a car from a dealer, you must pay sales tax, of course. What I am curious is how they figure the amount of tax you must pay. Is it computed on just the price of the car, or the price of the car plus the Destination Charge? I would think it is different by state, and I live in Georgia. Thank you.
Asked by Jeff - Wed Jul 8 15:31:50 2009 - - 4 Answers - 0 Comments
A. Sales tax rates are different for every state and in some states even vary by county. It is computed based on the agreed-upon price of the car, including the destination. In some states (not all), if you have a trade, the taxable amount is based on the agreed-upon price minus the amount of your trade. Rebates are taxable, which means that any amount that is being taxed is taken into account before the rebates are applied. Even if you buy it from a private party, you will still need to pay taxes at the DMV when you go register the vehicle. These taxes will be based on the fair market value of the vehicle.
Answered by Stupid Flanders - Wed Jul 8 15:45:25 2009
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