Bills of Sale
#1
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Bills of Sale
Guys, is it dangerous to drop the price on the bill of sale in order to avoid higher taxes? I am thinking about asking a seller to *sell* the car for $3000 to me; that is on paper.
#2
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my first car was given to me by my grandparents and when the signed the title over to me they put $1 in the bill of sale. i paid a whole .06 cents in taxes woot woot
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Re: Bills of Sale (vitaliy)
<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by vitaliy »</TD></TR><TR><TD CLASS="quote">Guys, is it dangerous to drop the price on the bill of sale in order to avoid higher taxes? I am thinking about asking a seller to *sell* the car for $3000 to me; that is on paper.</TD></TR></TABLE>
Nope, you can put that the car is worth $100 and pay less.
Nope, you can put that the car is worth $100 and pay less.
#5
Re: (JDMlifestyle)
i'm not sure but i think they changed the laws on that because i couldn't do it when i bought my winter beater off of a friend i live in PA and i don't really know much more about it besides the fact that numerous people told me some law was changed and that that won't help you out anymore you still end up paying KBB value or some stupid **** like that...
as long as nothing stupid like that is going on where you live then no its not dangerous at all so i would def go for it
as long as nothing stupid like that is going on where you live then no its not dangerous at all so i would def go for it
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Re: (punku10)
<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by punku10 »</TD></TR><TR><TD CLASS="quote">i'm not sure but i think they changed the laws on that because i couldn't do it when i bought my winter beater off of a friend i live in PA and i don't really know much more about it besides the fact that numerous people told me some law was changed and that that won't help you out anymore you still end up paying KBB value or some stupid **** like that...
as long as nothing stupid like that is going on where you live then no its not dangerous at all so i would def go for it
</TD></TR></TABLE>
last title I transfered, the way it had changed was that you had to explain why you were buying/selling above/below the "retail" value... but all it required was writing why, "car is beat up, rusty, not running well ....whatever..." (inPA)
as long as nothing stupid like that is going on where you live then no its not dangerous at all so i would def go for it
</TD></TR></TABLE>
last title I transfered, the way it had changed was that you had to explain why you were buying/selling above/below the "retail" value... but all it required was writing why, "car is beat up, rusty, not running well ....whatever..." (inPA)
#13
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Re: (foz)
the last time I was in the Secretary or State, I over heard one of the conversations between a customer and a worker. The customer had gotten the car from a family member for free but the worker kept asking the previous owner (because they were there) how much they would have sold the car for if it wasn't given to their family member. They were trying to get this person pay tax on something they really did pay anything for. If thats the law in MI or not I don't know. I know when I got my first car from my grandfather I didn't pay any taxes. Maybe the law has changed, I don't know.
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Re: (foz)
<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by foz »</TD></TR><TR><TD CLASS="quote">
last title I transfered, the way it had changed was that you had to explain why you were buying/selling above/below the "retail" value... but all it required was writing why, "car is beat up, rusty, not running well ....whatever..." (inPA)</TD></TR></TABLE>
Kind of the same thing here in FL. I bought a wrecked 92 tercel a few years back for $900. I paid the taxes on that but then got a letter a few weeks later saying the Blue Book price was a few thousand more and I owed them money. I had to get all sorts of documentation showing why I paid so little. Then again, I just bough a rough hatch for 5 bills and got nothing, so its a bit of a crap shoot.
BTW, foz, awesome avatar.
Josh
last title I transfered, the way it had changed was that you had to explain why you were buying/selling above/below the "retail" value... but all it required was writing why, "car is beat up, rusty, not running well ....whatever..." (inPA)</TD></TR></TABLE>
Kind of the same thing here in FL. I bought a wrecked 92 tercel a few years back for $900. I paid the taxes on that but then got a letter a few weeks later saying the Blue Book price was a few thousand more and I owed them money. I had to get all sorts of documentation showing why I paid so little. Then again, I just bough a rough hatch for 5 bills and got nothing, so its a bit of a crap shoot.
BTW, foz, awesome avatar.
Josh
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Re: (hybrid98)
like everyone else said, have them write it down on paper saying it was given as a gift. too bad in WA state you're only allowed to do that once per car.
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