How do I transfer my vehicle title , which is currently under my corporation, to an individual?

Question

To be more specific, I'm transferring the title to my wife. Would it be considered a family transfer? The insurance for a corporate car is getting too expensive.

I'm in California. Also, would I have to pay a use tax?

Answer 1

A corporation doesn't have family, so no it is not a family transfer.

Just have an officer in the company sign off the title and transfer it like any other transfer.

Answer 2

You would need to sign off the title as John Doe, Inc.by John Doe as the seller. Your wife would need to sign and print her name as buyer. Since it is going from a corporation to an individual you will have to pay use tax. You will also need a bill of sale to accompany the title for the title transfer. So the sell price can be whatever you decide it needs to be.

Answer 3

As a corporation and you as the officer of the corporation can sell the car. You will only need to pay the tax on the income coming funds back into the corporation. ( see your tax adviser on that one) Selling a car from any source is just like from private party to private party. Only problem you will have is trying to get around the no sales tax to your family member. Check with the DMV. Your corporation is not a family member.

Answer 4

The absolutely free reverse vin check sites generally provide fake information. To get real information, money will have to be paid. The free searches provide fake information so they can get your email address to send spam.

Stay away from shady reverse vin check sites, most likely you won't get any information after you make the payment. Not to mention you won't get a report and you won't get an answer if you try to call for a refund. Stick with a reputable reverse vin check site like http://www.reversevincheck.net that has been around since 1995.

Answer 5

1

Answer 6

don is correct because I wanted to do the same since our corporation went out of business. we wanted to put it in my name or my husbands but they still were going to charge us all the fees. so we left it in the business name. it was just to much of a hassle for us. they always get their money don't they? We will never do that again!

Answer 7

you may desire to tell the DMV ASAP! it could all be hung on you if the different guy or woman gets in an accident, kills somebody or regardless of. you may desire to lose each thing! call the law enforcement officers or something it somewhat is somewhat substantial and that i'd ask your self why the heck they wont pass identify?

Answer 8

ITS BEST IF YOU CONTACT YOUR LOCAL (DMV) DEPARTMENT OF MOTOR VEHICLES OFFICE, THEY WILL BE ABLE TO ANSWER ANY AND ALL OF YOUR QUESTIONS AND AT THE SAME TIME YOU WILL BE GETTING THE CORRECT ANSWER TO YOUR QUESTION.

California Department of Motor Vehicles
Driver Licensing &Title/Registration: [phone]