New car: tax question
06-01-2009, 06:58 AM
#1
No longer a Honda Driver.
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New car: tax question
If a new car is, let's say, $30,000, do you pay tax on that price?
Or do you pay tax on the price AFTER your trade-in and cash-down payment?
Or just after your trade-in?
Thanks!
Or do you pay tax on the price AFTER your trade-in and cash-down payment?
Or just after your trade-in?
Thanks!
06-01-2009, 07:04 AM
#3
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Price - trade in allowance = Total Taxable Amount
Down payments are deducted after the Total Taxable Amount.
Last edited by Megatron; 06-01-2009 at 07:05 AM.
06-01-2009, 07:06 AM
#5
I go duffy on dem bitches
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no, you pay tax on the price of the car. why would you pay tax after initial payments (trade in and down payment).
thats' retarded. trade in is just another form of payment so why would that deduct from the taxable amount?
06-01-2009, 07:12 AM
#7
BAZINGA!
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Considering that with cell phones you pay tax on the true cost of the phone (which is BS when you get a $400 for $50 and you pay taxes on $400), cars would be the same way. Final cost on paper is was is taxed, then come the deductions.
06-01-2009, 07:12 AM
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un-Touch'd krew
06-01-2009, 08:53 AM
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