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Question about trade-in sales tax deduction

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Old 12-22-2007, 04:23 PM
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Question about trade-in sales tax deduction

I recently trade-in my 997 c2 for 06 RRS supercharged as an even trade.
which means, on the bill of sale, the price of the car is equal value to the trade-in value of my 997.

And I live in the state where we have no tax deduction (Maryland).

As of my situation,

am I responsible for the tax of my new car? or tax has been paid off from my previous car, so it should not be a problem?

I need to know this ASAP with accurate information.

Thanks

-John
 
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Old 12-23-2007, 11:33 AM
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John,

Just want to clarify that you are talking about sales tax? not property tax.
if you are talking about sales tax then they are responsible for the tax.
I am assuming what they did was your car was even trade for the rrs with tax.

997= RRS + tax of RRS.

I live in VA where we do not have tax credit.
btw, do u still have ur cargraphics? or ur sold them with the car?
 
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Old 12-23-2007, 11:38 AM
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Ask your dealer's finance person - they should know.
 
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Old 12-23-2007, 02:27 PM
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thanks for the reply.
you are right, we are talking about sales tax.
997= RRS + tax of RRS.

so, I really dont know at this point, than go to MVA first thing tomorrow.

and, yes I sold the rims with the car.
 
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Old 12-23-2007, 02:31 PM
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I'd still check with the dealer before you get to the MVA. In Colorado if the selling price is $90,000 and the trade allowance is $60,000 you pay sales tax on the net or $30,000 - I think a lot of states work this way but don't know about Maryland.
 
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Old 12-23-2007, 06:14 PM
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Same in NJ.


Originally Posted by jhbrennan
I'd still check with the dealer before you get to the MVA. In Colorado if the selling price is $90,000 and the trade allowance is $60,000 you pay sales tax on the net or $30,000 - I think a lot of states work this way but don't know about Maryland.
 
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