Gift tax is $10 but if I am able to sell my car to my daughter for $1, I will only have to pay 6 cents sales tax.
2006-06-26 04:28:25 · 7 answers · asked by gitrdone281 3 in Cars & Transportation ➔ Insurance & Registration
$1 dollar. had a friend buy a car for a dollar from his father. it was a gift, but that's how they changed the title. his dad is a used car salesman also in Texas.
2006-06-26 08:48:00 · answer #1 · answered by lopez 2 · 1⤊ 0⤋
the minimum amount you could sell the car is a $1.00 because there for it is no longer a gift it is now a item of purschase. And the tax you pay will just be on the dollar
2006-06-26 11:39:10 · answer #2 · answered by k_nfuentes 1 · 0⤊ 0⤋
In NJ you dont pay this tax, just put in zero for the dollar amount and mark it down as a gift. I would think this applies to any state. Just ask at the help desk in the DMV.
2006-06-26 11:37:19 · answer #3 · answered by mailbox1024 7 · 0⤊ 0⤋
i think the minimum is $100.
2006-06-26 11:33:31 · answer #4 · answered by cyndi b 5 · 0⤊ 0⤋
$1.00
2006-06-26 11:43:32 · answer #5 · answered by kathy g 1 · 0⤊ 0⤋
$50.00
2006-06-26 11:36:54 · answer #6 · answered by Ralph F 1 · 0⤊ 0⤋
what
2006-06-26 11:32:19 · answer #7 · answered by Mrs.Mitchell Musso 2 · 0⤊ 0⤋