TAVT and bringing out of state leased car (sales, buy)

[markjames68]

I saw the new law taxing leased vehicles on just the lease value. A step in the right direction.

I have a car that is in month 31 of a 39 month lease. 8 payments left, so if $500 a month that totals $4,000 remaining.

Plus in FL, the monthly lease payment includes the sales tax.

If I moved to GA, what should I expect? I’m hoping I don’t get taxed on 39 x $500 = $19,500...

[sedimenjerry]

I'm curious as well in case I move back to GA in the next 2.5 years

[SAAN]

In GA you are taxed at 6.5% of the cars value in you moved here from another state and whats even worse from what I hear, if you decide to purchase the lease afterwards, they will hit you with another 6.5% tag tax, since you are technically changing the title again.

[markjames68]

Originally Posted by SAAN

In GA you are taxed at 6.5% of the cars value in you moved here from another state and whats even worse from what I hear, if you decide to purchase the lease afterwards, they will hit you with another 6.5% tag tax, since you are technically changing the title again.

That's changing as of January 1st - it's now 7% (went up) of the LEASE value. So if you have a $50,000 car with a 50% residual lease you'll be taxed on the $25,000 value. At the end of the lease, if you buy the car, then you'll pay on the value of the car - around $25,000. So there is no longer a lease penalty.