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You bought your daughter a cartook it out of her name had in your name because insurance was cheaper now she pays insurance in her namedoes she pay taxes?
Whose name is on the title? That person owes any taxes on the car.
Do you pay taxes on cars that are gifted in Florida?
Yes you will have to pay taxes when you register the car in your name.
Do you pay sales tax if you buy a car from a private seller but the car is in a business name?
yes, you always pay taxes...no matter what.
Do you have to pay taxes if you win a car?
If you win a car you are responsible to pay taxes in the state where you live.
Your parents bought you a car for 13000 the title is in your name do you have to pay taxes on it?
Yes. If they buy the car then gift it to you, then they will have to pay upfront, and then can deduct a certain amount. But someone will pay.
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.
Can you sell a car to your daughter for 1?
Yes, you can sell a car to your daughter for $1 in many places. You may still have to pay taxes on the amount of the car's worth. It is best to check your local regulations in order to avoid potential legal issues.
If you buy a car in Maryland and live in Virginia where do you pay taxes?
You pay Virginia taxes.
Do you have to pay the taxes in the car you trade in in Virginia?
you would only pay taxes on a difference
Do you pay taxes on cars that are gifted?
yes, it will be based on the "value" of the car. You always pay taxes.
When giving a car as a gift does the receiver have to pay taxes in Ky?
The receiver of a qualified gift does NOT have pay any federal income tax on the value of the car as a gift. BUT the receiver will have to pay some taxes to the DMV when the car is registered in the new owner name in the state and to get the new license plates, etc.
When you buy a used car in Illinois does the seller pay any taxes?
He pays income taxes. You pay sales taxes.
