Question about trade-in sales tax deduction
#1
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
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
#2
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?
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?
#4
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.
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.
#5
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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