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Tax should be applied on a vehicle that is gifted in California depending on the cost. For example the average gift tax is 14,000 in which taxes must be paid.
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Do you have to pay sales tax for a car given to you as a gift in California?
No, there is no sales tax on a vehicle obtained as a gift in California. Others have said that yes, you do.
Is it better to sell or gift a vehicle to a family member?
If you gift a vehicle to someone that is a family member, there will be a tax that the person would be responsible for. The vehicle can even be sold for just one dollar to avoid that tax.
When giving a car as a gift what taxes does the person receiving the gift have to pay in Washington?
None. See: http://www.dol.wa.gov/vehicleregistration/usetax.html * If you can provide proof that the person who gave you the vehicle or vessel paid sales or use tax on the vehicle or vessel, no use tax is due. * If the person who gave you the gift owned the vehicle for 7 years or more and is from a state or province with sales tax, it will be assumed that tax was paid and no proof is needed. * If the vehicle or vessel is coming from a state or province without sales or use tax, use tax is due.
What is gift tax if give house as gift?
I just gave to my house title to my son (21 years old). The title has life estate in it. Is there is any gift tax do i have to pay? or my son have to pay any tax? I live in California jamie
If you received a car as a gift from your Dad how much tax do you have to pay on this vehicle in Virginia?
Some states will charge a minimum tax even if the vehicle is a gift. You should contact the Virginia DMV for the correct answer as it varies from state to state Should be tax-exempt form available at DMV
Do you owe taxes on a vehicle donated to you?
Yes it is called a Gift Tax and also they usually will charge tax on the value of the car.
When giving a car as a gift what taxes does the person receiving the gift have to pay in Connecticut?
No sales and use tax is due on a vehicle or vessel received as a gift. A Motor Vehicle or Vessel Gift Declaration AU-463 is required, signed by the donor. The donor cannot receive any consideration (cash, property, service, assumption of debt, etc.) in return. Please be aware that a donor who gives a motor vehicle or vessel may be subject to the Connecticut Gift Tax. Generally, the gift tax is imposed on the transfer of property by gift during each calendar year. The tax is measured by taxable gifts, as defined for federal gift tax purposes. For more information on tax exemption, please contact the Department of Revenue Services . Any vehicle exempt from the sales tax can not be transferred if delinquent tax is owed on the vehicle. If the registration is suspended, the vehicle can not be transferred to an immediate family member. Content Last Modified on 1/7/2006 10:07:24 AM Reprinted from Ct DMV Website at: http://www.ct.gov/dmv/cwp/view.asp?a=814&Q=245262&dmvPNavCtr=|39525|
Vehicle Sales Tax Question you live in Arizona and im buying a truck in California what stat do you pay in?
You pay the sales tax when you go into the DMV to register the vehicle. In this case you would be paying the Arizona sales tax. I purchased a car from Colorado and registered it in Califonia and payed California sales tax.
Can you pay motor vehicle sales tax directly to the California?
yes sir OP
When buying a used car from a private party who collects the Use Tax required in California?
You will pay the tax when you register the vehicle in your name.
Do I have to pay California sales tax when registering a car that was leased in another state?
You pay sales tax to the State in which the vehicle will be registered.
What is the tax percentage for gift tax?
The tax percentage for the gift tax is generally 45 percent.
