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in Maine
Posted by jp (more from jp) on Fri, 23 Jan 2004 07:06:56
In Reply to: NJ taxman giving me greif, Russell Giuliano, Thu, 22 Jan 2004 22:52:45
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They even tax you to the fullest extent with NEW cars. If you get a bargain, or as is commonly done on Saabs, a discount off the sticker price, you must pay the State the taxes on the sticker price. This is regardless of what you actually paid for it and regardless of receipts you might have showing you paid less for it. This can be a few thousand dollars difference on a nice car.
I too have gotten nastygrams for paying too little for a used vehicle once. I bought a truck for a dollar from my brother who was in college and couldn't afford to keep it. (He wanted it back after he graduated and got a job) I figured family would probably be able to do that without interefence from the State, but I was wrong.
Thankfully, excise tax favors used car enthusiasts like us here. A relative who lives in NJ and vacations here, has a newer BMW convertible which he has registered in NJ, but keeps in Maine for when he is here. It saves him close to a thousand dollars a year in Maine excise tax to disgrace his Maine car with NJ plates. I have an antique car worth probably $50,000 that costs me $25 a year to keep registered, because it cost $5500 35 years ago new. In the excise tax rules, it's a cheap new car cost compared to the cheapest of todays new cars, and excise taxes decrease as the car ages. So this car is among the cheapest to register in the state.
posted by 69.39.1...
Posts in this Thread:
- NJ taxman giving me greif, Russell Giuliano, Thu, 22 Jan 2004 22:52:45
- Mass is like Maine >, ChipJ, Fri, 23 Jan 2004 11:17:27
- a suggestion for the future, GDS, Fri, 23 Jan 2004 09:06:27
- Gimme a break...you'd sell it for 8100, right?, JohnB, Fri, 23 Jan 2004 08:04:54
- in Maine, jp, Fri, 23 Jan 2004 07:06:56 <-- Viewing This Message
- Re: NJ taxman giving me greif, Baab
, Fri, 23 Jan 2004 05:30:14 - just a bluff., Jimbo, Fri, 23 Jan 2004 05:19:19
- Re: NJ taxman giving me greif, JLD900S, Fri, 23 Jan 2004 04:24:59
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