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When your car is totaled if you take that money and buy another car do you have to pay the sales tax?
Wiki User
∙ 11y ago
Yes.
However, the interest payout is not income, so you don't have to pay income tax on it.
Wiki User
∙ 11y ago
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How might one dispose of a totaled car?
A vehicle that has been totaled can be sold for scrap and parts through junk yards or scrap metal yards. Also there are several businesses that will pay a small amount of money to take the scrap from a totaled car.
What figure do you take for gross sales?
Gross sales is the amount of money received for all sales before expenses have been deducted. After the gross sales have been calculated, you may then deduct the expenses, leaving the net sales amount.
How long does it take to get insurance money for a stolen car and the car was found?
You will get the car back and plus they will give you the money to repair all damages on the vehicle. You will not get a check for the full amount of the car unless its totaled. You must have comprehensive in order to have coverage on a vehicle that has been stolen.
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Just another gimmick to take your money. Another in a long list of scams to take your money. They do not work!!
If you trade a car in for a new car and the new car gets totaled can you get the money back?
Certainly. If you buy a new car from a dealer and then wreck it, the dealer will be happy to give you back your old car and promptly return all of your money, and take back the ruined new car.
CAN you BUY MY Car back after its totaled?
In some cases you can buy your car back from the insurance company or from the scrapyard if the vehicle is totaled. You will need to check your insurance policy to see what type of stance they take on this purchase.
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popular ways to earn money in fundraising are car washes or bake sales. however, these take very long to earn money. try holding a telethon to earn money quicker.
Would my ex mother-in-law be able to make me pay for a vehicle in her name if I totaled it in an accident?
Really?... Of course she would be able to. YOU totaled it. She could take you to court and sue you for damage to personal property. You will lose.
Can bank take money from one account to pay into another?
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In new york state why are sales tax charged for labor when you take your car in for service?
New York has an incredible number of social projects that must be paid for. They cost money. Sales tax helps keep these social services alive.
