I need a Math Wizard to figue out the Sales Tax (Memphis: transfer, buying)

[LeeB]

I am thinking about buying a used truck in Georgia for $25,000 and I need to find out hoe much taxes I will need to pay when I register it here in Tennessee. I live in Sumner County....

I am assuming I will not have to pay Sales tax in Georgia...

Thanks for your help and HAPPY NEW YEAR....

[rossc]

Looks like $1830.00. If you are trading in a vehicle, the trade in allowance would be deducted from the purchase price and that's what you pay sales tax on. It boils down to 9.25%. 7% state and 2.25% local. You won't pay sales tax in GA.

[46Barb]

Lee, are you getting rid of your Silverado?

[alleycat]

Originally Posted by rossc

Looks like $1830.00. If you are trading in a vehicle, the trade in allowance would be deducted from the purchase price and that's what you pay sales tax on. It boils down to 9.25%. 7% state and 2.25% local. You won't pay sales tax in GA.

I don't think that's right. There's a "single item (sales) tax" in Tennessee on expensive purchases. This applies to the amount over the first $1600.

[alleycat]

It looks like a tax of a little under $800 to me, assuming no trade-in. Plus tags; and I don't know what that is in Sumner County offhand.

I think. I ain't no tax expert.

[LeeB]

Originally Posted by 46Barb

Lee, are you getting rid of your Silverado?

Yes Barb... We sold our MH and we are wanting a bigger truck and then we are going to buy a 5th wheel trailer...

So in guessing would $2000.00 be a "Ball Park" figure for taxes... Ha ha ha Alley.......... No there is no Trade In.. I am going to try and sell my Truck outright

[JMT]

Originally Posted by LeeB

I am thinking about buying a used truck in Georgia for $25,000 and I need to find out hoe much taxes I will need to pay when I register it here in Tennessee. I live in Sumner County....

I am assuming I will not have to pay Sales tax in Georgia...

Thanks for your help and HAPPY NEW YEAR....

Sounds like you need to call the Sumner County Clerk's office. I believe alleycat is right, there's a different tax for large ticket items such as cars bought in other states. I know when I lived in Memphis and bought a car in Mississippi I didn't pay 9.75% of the purchase price when I registered it in Shelby County.

[rossc]

As per the Sumner Co website. $25000 purchase price, $2000 trade-in would be....

State Tax: $1,610.00
+ Local Tax: $36.00
+ Other State Taxes: $44.00
Total: $1,690.00

+ Title Fee with transfer of plate $15.50 (emission test not required) or
+ Title Fee with new plate $87.00 (emission test is required)

The above is a copy/paste right from their vehicle sales tax calculator.

http://www.sumnertags.com/calculator/

It actually looks like the state tax is 7% of purchase price less trade-in and the local and other state taxes are a flat $36 and $44.

[LeeB]

Thanks rossc.... I looked and looked for that web site last night as I was waiting for Midnight and could not find it...

I fully intend to call the county clerks office Monday.....

Thanks again

[rossc]

Digging a little further, it looks like the state tax is 7% regardless of purchase price, but the local tax is based on a max of $1600. In your case, you are paying local tax on $1600 because that's the cap, but state tax of the full purchase price less trade-in.