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Sales tax is on the purchase price not the value.
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∙ 12y ago
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The sales on a new car was 757 If the sales tax represents 6 percent of the purchase price find the selling price of the car?
The selling price was 714.15.
If you trade 1 car for another do you pay sales tax?
It varies from state to state. Where I live (Washington State) you pay sales tax on the difference in value between the new car and the trade-in vehicle. Example: New car purchase price $25,000, trade-in car value $10,000; tax is paid on $15,000. It varies from state to state. Where I live (Washington State) you pay sales tax on the difference in value between the new car and the trade-in vehicle. Example: New car purchase price $25,000, trade-in car value $10,000; tax is paid on $15,000.
What is the sales tax on cars in Massachusetts?
Sales tax on vehicles in MA is 6.25 percent of the purchase price. If bought from a dealer, the trade-in value of your older car can be deducted from the price. If bought from a private seller, the value would be based upon blue-book, regardless of what you two agreed was the value.
How can you determine the sales tax owed on a new car?
Multiply the state income tax times the car purchase price.
What do you do when you go to the courthouse to change a car title from the previous owners name into your name when the NADA value of the car is more than the purchase price?
use the purchase price
Do you have to pay sales tax when purchasing a used car from a private party in atlanta?
NO. But you will pay sales tax when you tag and transfer title. Based on the value of car... not the actual sales price
If you purchase a new vehicle and trade one in is the 6 Pennsylvania sales tax calculated on the full purchase price or with the trade in amount deducted?
Sales tax in Pennsylvania is calculated on the difference between the sales price of the car and the trade-in amount. This is usually called the "money difference"
Where can one purchase an SUV or a car at a discount?
Car auctions is a awesome place to purchase a used or new SUV for a substantial lower price that usual. Some SUV's will likely go lower than 2000.00 under the value of the vehicle. Most car lots has room to negotiate on the price of a vehicle before selling but, the higher the selling price the more commission the sales representative make.
Used cars sales tax in New Jersey?
Yes, the purchase of a used vehicle is subject to NJ 7% sales tax, based on the purchase price of the car. The sales tax is paid when the vehicle is registered with NJMVC.
Do you pay sales tax in Michigan on purchase price of used car or the MSRP?
You would pay the taxes on the actual price you paid for the car. If it was 10000 then you would pay the taxes on that not the list price. Hope this helps
Car sales tax in Oklahoma?
The tax is depending on the purchase price. The sales tax for new cars is 3.25%, and for used cars, the tax is $20.00 for the first $1500.00 and 3.25% on the remainder of the sale price.
Does a resident of Illinois have to pay sales tax on a new car they purchased in Missouri?
You pay the tax on the purchase price in IL.
