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If it is registered, yes. The MVD determines the value.
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∙ 13y ago
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Inherited classic car - do you have to pay taxes when car is sold?
No
Does Texas have a classic car insurance policy?
No, the coverage not specific to a classic car but you can insure it. Texas does not have property taxes so you will pay more for other things like insurance.
If you have owned a classic car for over 10 years and get a profit on the sale with appreciation do you pay tax on the sale?
The purchaser pays the taxes.
Do you have to pay taxes if you win a car?
If you win a car you are responsible to pay taxes in the state where you live.
What taxes do you pay if giving a car as a gift in NC?
You don't pay the taxes, the person receiving the car as a gift does.
Do you have to pay the taxes in the car you trade in in Virginia?
you would only pay taxes on a difference
If you buy a car in Maryland and live in Virginia where do you pay taxes?
You pay Virginia taxes.
Do you pay taxes on cars that are gifted in Florida?
Yes you will have to pay taxes when you register the car in your name.
Do you pay taxes on cars that are gifted?
yes, it will be based on the "value" of the car. You always pay taxes.
When you buy a used car in Illinois does the seller pay any taxes?
He pays income taxes. You pay sales taxes.
If you buy a car in tax-free New Hampshire and you move to Florida will you have to pay taxes?
Yes- you pay the taxes when you register your car in the state you live in.
What conclusion can you draw from the following two statements If you have a job then you have an income If you have an income then you must pay taxes?
If you have a job, then you must pay taxes. The classic p and q relationship.
