Re: Different States Tax Differently - Saab NG900 & OG9-3 Bulletin Board - Saabnet.com
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Re: Different States Tax Differently
Posted by jimbobjoe [Email] (more from jimbobjoe) on Fri, 20 Jul 2001 03:53:43
In Reply to: Different States Tax Differently, gatorcpa, Thu, 19 Jul 2001 11:36:39
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Very true. Which state are we talking about...I can look up the answer quickly, I use to work for an auto lease/sales company so I got the goods on most states.
Moving tends to illuminate these situations more. Let's say you buy a vehicle in Virginia, which has a 3% sales tax rate, then move into Maryland, which is 5%. Maryland will want the extra 2%--as long as payments are still being made on the car--or the vehicle has been owned by you for less than 6 months old. That 6 month rule applies in many states. You may be able to get away with this if you buy a car, say, in New Hampshire or Oregon, keep it there for more than six months (registered) then move into a state that has a six month rule, and does not differentiate between states with a sales tax, and those without. It requires a magical combination of factors.
New York is absolutely the worst state. As pointed by gatorcpa, Florida charges sales tax on the monthly payment on a lease (many states do this--a lease to them is a "rented" vehicle--so you only pay on the rented portion.) On the other hand, New York charges sales tax on the entire lease portion. Many people may then move...like to New Jersey. New Jersey will charge sales tax on the remaining lease payments. Move back to New York, a sales tax is charged, again, on the entire lease. It's always a nasty situation.
Posts in this Thread:
- sales tax, Ron, Thu, 19 Jul 2001 04:31:26
- Not so fast, larry, Fri, 20 Jul 2001 10:02:56
- Every state with a Sales Tax also has a "use" tax, Gerry , Thu, 19 Jul 2001 10:23:18
- Re: sales tax, Mike, Thu, 19 Jul 2001 08:41:54
- Re: sales tax, Bill D, Thu, 19 Jul 2001 08:37:39
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