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Not exactly. Starting a few years ago, all were given the choice of deducting EITHER state income tax paid, OR state sales tax paid. Normally, if you live in a state with income tax, it is most beneficial to use that as your deduction...but if you live in a state with no income tax - the sales tax works...and when you have paid a lot of sales tax in a year...perhaps because of car, boat, etc purchases...it can be the better way in either case.
AND - as part of the incentive programs in effect now - 2009 - there is a special allowance for deducting sales tax on new cars...with a number of restrictions.
What else can I help you with?
The new car sales tax at Texas?
sales tax on new cars in Texas is 6.25%
What is the sales tax on cars in New York State?
16.350%
How much is auto sales tax in Mississippi?
The sales tax on new cars, motor homes and pick-up trucks in Mississippi is 5%. The sales tax on used cars in Mississippi is 5%. For trailers it is 7%.
Where can one go for sales on cars?
One can go many places in order to find sales on cars. They can look in their local newspapers, look around at local used and new cars dealers, or just look at the websites of certain cars.
Use the New Car Credit?
A lot of people fail to itemize their deductions. Itemizing deductions takes a lot of time and often does not result in great savings on a person's income. One new deduction that all people can take advantage of without itemizing deductions is a deduction for the sales and excise tax paid upon the purchase of new vehicles. A lot of people also do not realize how expensive a sales and excise tax can be. If you do elect to take this deduction, you will save a lot of money on the purchase of your new vehicle. This is a great opportunity for car owners.
What is the NC sales tax for new cars?
3 percent Moter vehicle tax
Do Active Duty Military have to pay sales tax for new cars in Florida?
Yes
What is the KY sales tax for new cars?
New car sales tax in Ky is 6%. Trade in value is deducted from the selling price. You pay taxes on the difference.
Have new auto sales declined due to the economy?
Yes the economy has declined the new auto sale which makes cars manufacturers suffer from from major sales declining
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.
How much is sales tax on new cars in durango co?
The current total local sales tax rate in Durango, CO is 7.9%
What is the sales tax in kendall county Illinois for new cars?
The current total local sales tax rate in Kendall County, IL is 7.25%
