I bought a car on ebay and the car location is in a different state. I didn't realize that I have to pay state tax on top of the car value once I brought it to my state in order to register the car.
Could I get in trouble if I stated that the car value was less than what I actually paid? By the way, i bought it from a car dealer.
To my understanding, if I had bought it from another person, I could just say whatever value I wanted to. But I can't do the same if I bought it from a dealer.
Thanks for the help!
2007-02-08 01:28:31 · 6 answers · asked by Spartian 1 in Cars & Transportation ➔ Buying & Selling
not legally
2007-02-08 03:22:36 · answer #1 · answered by currious 4 · 0⤊ 0⤋
You'd better hope the guy doing your taxes hasn't had his coffee in the morning when he comes across yours. LOL.
No, it isn't legal to do what you're suggesting.
Practice the look of "shock" and "OMG" on your bathroom mirror for when (if) the audit-guy comes a' knocking on your door and calls you on this.
If you give a cash down-payment and pay the rest with a check, or credit card the most you can actually do is claim that the vehicle was worth the amount of your check (or charge). The cash is untraceable and therefore (while not legal) is safe to do.
2007-02-08 01:40:07 · answer #2 · answered by rob1963man 5 · 0⤊ 0⤋
The debt that became wiped out by technique of the financial disaster received't have any tax consequences. even as fogiven money owed may have tax consequences depending upon the situations there are not any tax consequences if you're bancrupt. even as that's nevertheless obtainable to be bancrupt and not in any respect record financial disaster (and if so it should be worth $one hundred for tips in claiming that) filing financial disaster quite avoids any tax on the money owed that were wiped out.
2016-11-26 02:24:20 · answer #3 · answered by Anonymous · 0⤊ 0⤋
In my state, the mileage MUST be listed on the title, and the tax is charged at the time the title is registered.
It's illegal to state mileage that is not true.
2007-02-08 01:50:52 · answer #4 · answered by Anonymous · 0⤊ 1⤋
yes you can get in trouble, but people do it all the time. you will have to get the other person to sign off on this lower price as well, as the paperwork and bill of sale will probably be required for registration...
2007-02-08 01:32:32 · answer #5 · answered by quickmirada 3 · 0⤊ 0⤋
claim whater you want but it may come back on you...best to pay the local tax chart....
2007-02-08 01:33:06 · answer #6 · answered by Anonymous · 0⤊ 0⤋