I just bought a vehicle(my first), and I haven't paid sales tax or got it licensed yet, and I want to sell my vehicle. Do I still have to pay taxes and get it licensed if Im going to sell it? Thank you.
2007-02-13 13:29:03 · 3 answers · asked by Arachnophobia 1 in Business & Finance ➔ Taxes ➔ Other - Taxes
In order to sell it, you must hold the title in your name. You must process the title first. Most states will require you to pay the sales tax to title and register the vehicle.
Only a licensed dealer can sell a vehicle with an open title. Private parties must hold title in their name.
2007-02-13 23:47:15 · answer #1 · answered by Bostonian In MO 7 · 0⤊ 1⤋
The sales tax has to be paid before you can get it registered. If you sell it before it is registered, you don't need to pay the sale taxes. The person you are selling the car to will be the one paying the sales tax when they go to get the car registered.
2007-02-13 21:34:28 · answer #2 · answered by jseah114 6 · 0⤊ 1⤋
if you have the title in your hand, sign the top part off to the buyer, then notarize it. then, sign the bottom section as the seller. you don't have to pay anything else. i just did this recently.
2007-02-13 21:34:27 · answer #3 · answered by isochronous7 4 · 0⤊ 1⤋