I want to buy a used car after Christmas and before the New Year.
Would the tax rate differ between a used car dealership and a regular dealership?
2007-11-25 16:40:50 · 2 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
INVENTORY TAX for BUSINESSES not customers.
For Bostonian... What is FMV?
2007-11-26 08:57:45 · update #1
Whose tax rate? Sales tax? Sales tax does not vary depending on the date of sale or whether the car is new or not.
Sales tax is 7% plus LOCAL sales tax, determined by the table below for the city where the vehicle is REGISTERED (not sold).
2007-11-25 22:33:50 · answer #1 · answered by neoplop 7 · 1⤊ 3⤋
If TN has a personal property tax that applies to business inventory, the tax is based upon the valuation of the vehicle. Most states with that type of tax use their own valuation tables that bear little reality to FMV so you need to contact the local tax assessor's office for that information.
2007-11-26 00:53:51 · answer #2 · answered by Bostonian In MO 7 · 1⤊ 1⤋