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Since he is the direct owner of the car once it is officially sold to him, hes does pay the sales tax
Most states have an exemption available, especially if there is some gifting involved, that would avoid it. Check...it will certainly require a few forms.
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∙ 12y ago
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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
Can you claim your girlfriend's son as dependents?
If you pay for over half of his support. And no one else claims him. Then yes you can
How do you print pay stub from raising canes?
Trying to get my son paycheck stubs
How do you get medical bill off my seventeen year old son's credit?
pay the bill and then make sure it is noted on the report as paid. It wll then fully disappear in about 7 years.
Does a gift from a father to son get taxed?
This relates to US taxation only. Yeah, a gift from a father to son does get taxed but there are annual exclusions. If the amount of the gift is more than $12,000 (for 2007) then it has to reported by the father and he will have to pay tax for more than that amount. However the son needn't report the gift. The following gifts have unlimited exclusions though - 1- Gifts to SPOUSE 2 - Gifts directly to a medical or educational institution or even a political organization. and 3- Charitable gifts Form 709 must be filled.
Does the buyer have to pay sales tax at the DMV when buying a used car from a private seller?
Not necessarily but some states require you do so. My son moved to NC with a free car and had to pay sales tax.
Your son passed away wanting you to have his classic car but no papers were signed to that effect Creditors are seeking fund to cover bills Can you sell the car?
If you are the executor of his estate you can sell it to pay his bills.
What if the dad signed the title but the son paid for the car and the son wants to sell the car but the dad wont sign over the title.?
Then son can not sale the car as dad is legal owner of the car.
Does a Gift Deed be prepared for gifting a car to son by father?
Ownership of a car is transferred by the Certificate of Title not by a deed. The father would sign the certificate over to the son and the son would take the certificate to the Registry of Motor Vehicles so they will issue a new one in the son's name. In Massachusetts there is a form available at the Registry when there is no consideration to be paid and the car is a gift. Otherwise there is a mininum amount of sales tax due. The father would sign that form so the son would not have to pay a sales tax. Check at your own Registry to see if that option is available.
What if your son abandoned his car and moved out of state can you sell it?
Not if the car is titled in his name. I suggest you contact your son and tell him to remove the car or sign it over to you so you can sell it. If the car is in your name then you can legally sell it. Be very careful of selling a car you do not own. This is fraud and theft and can get you into lots of trouble if your son presses charges. Better to let it sit than to get into a legal hassle over it.
What can you do to save your credit as a cosigner for your son durning a car repossession?
You need to have him sign over the car to you and pay the note. Regardless, you have to pay the note.
Can I sell my car to my son and keep insuring the car?
yes , but dont believe me cause im only ninne
Where can I find a car for under 1000?
Go to a junkyard and look there. Or look on craigslist, lots of people will sell their cars on craigslist. Or maybe a relative can sell your son a car.
How do you sell an unregistered and unlicensed car?
u turn yourself in to jail u son of a ****
Can an adult son sell his deceased parent's car to obtain money to pay for funeral expenses?
If he is appointed executor of the estate. If the car is the only asset, there are usually some short forms that can be acquired to transfer title. Consult a probate attorney in your area.
I cosigned a car for your son can i refuse to let his girlfriend drive the car?
No, but if you pay the insurance, or if she's not on his, you can probably manage to get her into trouble for driving it.
What is the possessive of my son's car?
The possessive noun is "son's". My son's car = the car of my son.
