Does anyone know if you can avoid tax by trading your vehicle for someone else's vehicle with no cash involved? Some people say yes , some say no. I was hoping it worked this way, but I'm thinking they make it as if you both sold your car to each other. If that's the case, how do they determine the values of each car? Any help is appreciated.
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Yes - if no cash is exchanged then no sales tax is due. At least that was the case the last time I did it a few years ago.
2014 GT Premium - Sterling Gray Metallic - MT82 - Track Pack - Glass Roof - Recaro seats - Spoiler delete
12.76 @ 114.04 bone stock. Koni yellow coil-overs, BMR watts, LCA and LCA relo brackets, Borla S-type axle back.
1966 Coupe - 331 stroker - Bullet custom roller cam - cam and motor installed and dyno tuned by Rodeheavers Hot Rod - Astro A5 - McLeod RXT - 486 to the wheels - more fun than my little tires can handle
1966 Oldsmobile Toronado - currently NOT on jackstands
Yes just did it 2 months agoOriginally Posted by PaxtonShelby
1969 Camaro restomod/project
1967 camaro
2011 mustang procharged
93 reef blue notch blk/int
92 calypso notch blk/int
86 t-type
1972 chevelle project
Not only did I fail at building a fast mustang but I bought a yellow zo6 cause I couldn't get my little dick up.
Thanks guys that's what I wanted to hear.
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Any person can also "gift" one car a year to any other person.
So it no longer has to be a family member? That doesn't seem right - the state would lose all kinds of sales tax revenue that way.
2014 GT Premium - Sterling Gray Metallic - MT82 - Track Pack - Glass Roof - Recaro seats - Spoiler delete
12.76 @ 114.04 bone stock. Koni yellow coil-overs, BMR watts, LCA and LCA relo brackets, Borla S-type axle back.
1966 Coupe - 331 stroker - Bullet custom roller cam - cam and motor installed and dyno tuned by Rodeheavers Hot Rod - Astro A5 - McLeod RXT - 486 to the wheels - more fun than my little tires can handle
1966 Oldsmobile Toronado - currently NOT on jackstands
I have gifted two cars in the last 3 years to non family.
Interesting - I'd think the state would be skeptical. I'm not doubting you - but you have to admit that is really odd.
2014 GT Premium - Sterling Gray Metallic - MT82 - Track Pack - Glass Roof - Recaro seats - Spoiler delete
12.76 @ 114.04 bone stock. Koni yellow coil-overs, BMR watts, LCA and LCA relo brackets, Borla S-type axle back.
1966 Coupe - 331 stroker - Bullet custom roller cam - cam and motor installed and dyno tuned by Rodeheavers Hot Rod - Astro A5 - McLeod RXT - 486 to the wheels - more fun than my little tires can handle
1966 Oldsmobile Toronado - currently NOT on jackstands
That is interesting. I hear so many different stories about what you can and can't do.
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Best thing to do is go to a notary and ask. I know I sound like Mr. Obvious but that's what I'd do. Lol
17 Ram 1500 Big Horn Hemi
16 Comp O GT Performance Pack
03 Oxford white Cobra (Gone but not forgotten)
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