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Do you pay sales taxes on a boat if it was a gift in new jersey?
Mickey1957
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If someone gives you a car as a gift how much sales tax would you pay to register in Florida?
You should not have to pay sales taxes in Florida if it was a gift. Cloud Chaserz
What is sales tax on car if the car is a gift?
gift = no sales tax
What are gift taxes?
Taxes that you get from gifts :D
Do you have to pay taxes on a gift that was given to you?
Federal gift taxes are not paid by the recipient. However, in the rare case where the donor does not have the resources to pay gift taxes they may owe, the IRS might try to recover some or all of the gift from the recipient. Since you posted this question in the Car Buying category: Some states may impose a sales tax on the Blue Book value of the car being transferred. This is a matter of state law and you should check with your DMV for details.
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.
What are Direct and Indirect Taxes Give examples?
Direct Taxes- Income tax, Wealth tax, Gift tax, Corporation taxThese taxes are considered as direct taxes because such taxes are borne by the person on whom it is imposed and the burden of such taxes cannot be shifted from the payer to the bearer.Indirect Taxes- Sales tax, Excise duties, Custom duties, Entertainment taxThese taxes are considered as indirect taxes because the burden of such taxes can be shifted from the payer to the bearer
Does the recipent of a gift pay tax?
Gift taxes are owed by the party who gives the gift and not the recipient.
When a person's name is added to a deed at no cost is this a gift and are the required to pay gift taxes?
Yes, it could be considered a gift, although the deed may recite "for good and valuable consideration," which undermines that presumption. In any case, there are no taxes payable by the recipient of a gift; any taxes on gifts are accrued to the person GIVING the gift.
Do you have to pay taxes on gift money that was given to you?
Federal gift taxes are not paid by the recipient. However, in the rare case where the donor does not have the resources to pay gift taxes they may owe, the IRS might try to recover some or all of the gift from the recipient. The donor may owe a gift tax depending on the size of the gift and depending on what other gifts the donor has given.
Do you have to pay taxes on a 12000 gift?
Yes.
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.
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.
