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Old 04-03-2010, 07:35 PM
 
143 posts, read 564,722 times
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I last bought a used car almost 10 years ago. Back then you could get a letter of sale for less than the Kelley blue book amount and they would calculate the sales tax based on the letter of sale.

Have they changed that now? Do they base the value on Kelley blue book or the letter of sale?

Thanks.
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Old 04-03-2010, 08:29 PM
 
Location: Purgatory (A.K.A. Dallas, Texas)
5,010 posts, read 12,178,289 times
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6.25% of the sales price.
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Old 04-03-2010, 08:47 PM
 
426 posts, read 902,719 times
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Letter of sale.
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Old 04-05-2010, 09:09 AM
 
198 posts, read 408,390 times
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You are so honest. Its refreshing to know someone wouldnt say they were given the by car by a family friend to avoid paying the sales tax....kudos to you!
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Old 04-05-2010, 09:23 AM
 
20,690 posts, read 41,147,032 times
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someone buying from a private party vs used car dealer pays the sales tax TO the person--not the taxing agency--
it is the SELLER of the car from what I understand who is responsible for actually turning over/declaring the sales tax amount

and frankly it could just be a means to get more money from the BUYER--and would never be turned over...
how many people selling a car are going to declare that extra income on their tax statement?
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Old 04-05-2010, 09:25 AM
 
292 posts, read 1,037,898 times
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For a private part sale, taxes are based on the higher of the standard presumptive value or the actual amount of the sale. Standard Presumptive Value

From a licensed dealer it is always the sales price. The link above will give the value based on the vehicles vin number.

The buyer is responsible for paying the sales tax, and it is paid when registering the car.
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Old 04-05-2010, 10:19 AM
 
20,690 posts, read 41,147,032 times
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thanks for the info--thought it would be the seller--I have not bought used car...
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Old 04-27-2010, 06:18 PM
 
143 posts, read 564,722 times
Reputation: 119
Quote:
Originally Posted by derekv View Post
For a private part sale, taxes are based on the higher of the standard presumptive value or the actual amount of the sale. Standard Presumptive Value

From a licensed dealer it is always the sales price. The link above will give the value based on the vehicles vin number.

The buyer is responsible for paying the sales tax, and it is paid when registering the car.
Almost, but not quite. The sales tax is either 80% of the Standard Presumptive Value or the sales price - whichever is higher. I just went through this and the sales price was just slightly below the Standard Presumptive Value. They based the 6.25% sales tax off the sales price.

County Issues (http://www.county.org/resources/library/cissue/v16_04/10.htm - broken link)

"Effective October 1, 2006, a county tax assessorcollector must use the amount paid for a motor vehicle to assess the state’s 6.25 percent sales-and-use tax on these types of purchases if the amount paid is at least 80 percent of the vehicle’s standard presumptive value. If the amount paid for the motor vehicle is less than 80 percent of the standard presumptive value, the county tax assessorcollector must assess the tax on 80 percent of the vehicle’s value unless certain conditions are met."
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