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In Indiana, when you trade in a car as part of a vehicle purchase, the sales tax is calculated on the price of the new vehicle minus the trade-in value. For example, if you buy a car for $20,000 and trade in your old car valued at $5,000, you would pay sales tax on $15,000. This trade-in deduction helps reduce the overall sales tax owed on the transaction. It's important to keep documentation of the trade-in value for accurate tax calculation.
What else can I help you with?
If you live in Indiana and buy a car in New York will you have to pay sales tax in Indiana?
You will pay Indiana sales tax (7%).
What sales tax rate do you pay if you buy a car in Illinois but live in Indiana?
Sales tax is based on where you live. so you pay the sales tax of Indiana, which I believe is 7%
What sales tax do you pay when purchasing a car from a dealer in Indiana and live in Georgia?
Normally you pay the sales tax in the state you reside in. If you live in Georgia you would not pay sales tax in Indiana, you would pay sales taxes when you registered the car in Georgia.
Do you pay sales tax on a car lease in Indiana?
yes, touche!
Do you have to pay sales tax on a used car if you trade it within a week of purchase in Missouri?
== == The operative word here is SALES TAX. Which is collected when a car is SOLD. If you SOLD the car, then sales tax is due on that sale amount.
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 sales tax do you pay if you are from Indiana and you want to buy a new car in Wisconsin?
5 to 5.2% depending on the county you are in.
What is the used car sales tax in Nashville Tennessee?
Zero, if you trade a more expensive car in and get a cheaper one
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"
If you win a car but don't like the car you won can you trade it in to the dealership immediately for a car you want if so do u still have to pay sales tax on the car u won?
Yes you can trade the car. Yes you will have to pay sales tax and yes you will receive a 1099 tax form for the value of the car just in time for tax season next year.
Where can you buy a good car for cheap?
Bell's Auto Sales is family owned and operated used car dealer, conveniently located in Bloomington Indiana and another dealership in Ellettsville Indiana. Bell's Auto Sales, Quality vehicles, at a price you can afford!Bell's Auto sales6001 W St Rd 46Bloomington, IN 47404
Are Indiana auto dealers required to collect sales tax if the vehicle is going out of state?
yes. i am a dealer in indiana and we are required to collect the 7% indiana sales tax and give the customer a tax form stating that we have collected the 7% indiana sales tax. the customer takes the tax form in when regestering the vehicle and payes the difference to their state. for example i sell a car to an illinois resident i collect the 7% and when they regester it in illinois they will pay the difference between the 2.
