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How is sales tax calculated on a used car purchased from an individual in Mississippi?
Wiki User
∙ 13y ago
Sales tax is determined by a value set by the state for used cars from individuals. It makes no difference if you have a Bill of Sale for $1 on a car or whatever it sold for, they look up it's "value" and use that value (a lot less than actual or NADA) to compute the tax ?
This tax is exempt from purchases or transfers to or from family. I don't know the extended family details for this. Even a free transfer is taxed at this "value", so if I gave you my new Suburban, you would have to pay tax on the "value" unless you are family.
Dealer sales are taxed at the value of the invoice from the dealer, in or out of state.
Wiki User
∙ 13y ago
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Texas sales tax used car purchased from a dealership?
I believe the sales tax is the same if you buy from a dealership or from an individual - $6.25%.
You purchased a car from an individual how much will the sales tax be when you go and get the tag?
It ca be different for every car
Do you pay sales tax on a used car at the dealer or BMV in OH?
If you purchased the car from a dealer, the dealer is REQUIRED by state law to collect the sales tax amount. If you purchased from an individual, the only you have to pay your sales tax is to pay it at the title office, which is most cases, is separate from the BMV. Hope this helps!!
Is sales tax on a used vehicle based on fair market value or selling price in Kansas when purchased from an individual?
It is based on the sale price.
How much is auto sales tax in Mississippi?
The sales tax on new cars, motor homes and pick-up trucks in Mississippi is 5%. The sales tax on used cars in Mississippi is 5%. For trailers it is 7%.
Do you pay sales tax purchasing a used car in Tennessee?
Yes, there is a sales tax on cars in TN. If you purchase your car from a licensed dealer, they will collect the sales tax but if you purchased your car from an individual you will be responsible for the tax when you register your car in your county.
What are seasonal patterns for costume jewelry sales?
One-third of all costume jewelry purchased in the United States is purchased as a gift--Christmas, Mother's Day, and Valentine's Day are the peak selling seasons. Two-thirds are purchased for individual use
You are from Mississippi bought something in Tennessee to be installed in Mississippi. Do you have to pay sales tax?
no
Where can a case for an iPhone 3G be purchased?
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Is calculated by dividing the net income by revenue or sales?
return on sales
What is taxed by sales tax?
the customer of the purchased item is taxed by sales tax.
What is the sales tax for the state of Mississippi?
The sales tax rate in Mississippi is 7%. However, local jurisdictions can add additional taxes, so the total sales tax rate can vary by location within the state.
