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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.
What is the total amount of taxes that I will need to pay for a used car purchase?
The total amount of taxes you will need to pay for a used car purchase depends on the sales tax rate in your area and the purchase price of the car. Typically, you will need to pay a percentage of the purchase price as sales tax. It is recommended to check with your local tax authority for the exact amount.
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
How can you determine the sales tax owed on a new car?
Multiply the state income tax times the car purchase price.
Do you pay sales tax on price you paid for used car or blue book value in mo?
In Missouri, sales tax on a used car is calculated based on the purchase price you paid, not the blue book value. If you buy the car from a private seller, you typically report the sale price on your title application. However, if the sale price is significantly lower than the blue book value, the state may assess tax based on the blue book value instead. Always check with your local tax authority for the most accurate and up-to-date information.
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
In Illinois do I need to pay sales tax private car purchase?
Yes, in Illinois, you are required to pay sales tax on a private car purchase. The tax is typically based on the purchase price of the vehicle. When you register the vehicle, you will need to report the purchase price and pay the applicable sales tax to the Illinois Secretary of State's office. Be sure to check for any local taxes that may also apply.
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.
In Indiana how is sales tax figured on a car trade?
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.
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"
