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05-01-2012, 07:23 PM | #1 |
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is it possible to buy a M3 from an owner to avoid the california sales tax?
i am gonna buy a M3 E93 from a owner as a private sale, and he said he can sell as gift to me,,i paid him all in cash,,,is that possible to avoid the tax when i transfer the title. I did avoid the tax when i buy a civic si which is only $15000, but i am not sure can i do the same thing with a $40K car.
Last edited by maxmak; 05-01-2012 at 07:46 PM.. |
05-01-2012, 08:24 PM | #4 |
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OP comes on basically saying he evaded tax on one car and now wants to do it again..
Just remember this.. they got Capone, Helmsley and Snipes (to name only a few) for tax evasion |
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05-01-2012, 09:25 PM | #6 |
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05-02-2012, 12:26 AM | #7 |
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i had four times buy and sell car experience, first time i bought from dealer, second time i sell my first car(TL 01) privately, the guy i sold to no need to pay tax. i bought my second car from a owner(civic si 08), i paid no tax for it, then i sold it privately to the other guy. He didnt paid tax at all but the fee for transferring title like $20.
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05-02-2012, 07:24 AM | #8 |
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oh, awesome. a non-us citizen taking advantage of the american system and actively asking how to illegally dodge taxes.
thanks a lot, you're why this state is broke. now go home.
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05-02-2012, 08:47 AM | #9 |
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Follow the rules. Pay the taxes. Simple as that. Then you have nothing to worry about.
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05-02-2012, 09:05 AM | #10 |
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05-02-2012, 11:14 AM | #11 |
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When and if you register the car in CA at the DMV you will most likely be taxed on the vehicle.
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05-02-2012, 12:22 PM | #12 |
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You guys have to pay tax even on a private sale? That sucks!!!!!
But in any case if it is illegal then this thread should be closed soon and OP if you're comfortable paying the 40k just drop the tax, not a big deal but then again I don't know how bad your taxes are, a grande sized coffee from SB in NYC cost me $18 back in 2009 (they said it was because of all the taxes in the hotel). |
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05-02-2012, 02:42 PM | #13 |
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OP, in Texas, the sales tax is defined as a 'transaction tax' and it is applicable to any transaction involving money (even selling a TV between friends).
When a seller fails to list a selling price on the 'Bill of Sale' for your purchase, he is leaving it up to you to declare the proper transaction price that occured. Some choose to stretch that truth alittle to their advantage. In recent years, Texas has come up with a method where they automatically slap a market value on each vehicle sale based on year/mileage/model etc. You are then required to pay at least that amount of sales tax to the State... So to answer your question, no you cannot avoid paying sales tax for your purchase even if the seller marks it a gift, because even marked as a gift, any gift larger than $10K/Yr is reportable as income to the IRS...and subject to Federal Taxation.
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05-04-2012, 01:15 AM | #14 | |
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anyway Thanks for you information. |
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05-04-2012, 08:49 AM | #16 |
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imidiate family gifts dont pay tax, just transfer fee. If you gift it, they will just tax it base on market value. Now keep in mind, if you lower sales price you lower sales tax. But is anything goes wrong, and you take him to court for your money back you only get back what it says on the bill of sale. How well do you trust the seller? I say pay the sales tax and be done with it. If you cant afford the sales tax or sweating it, then are you sure you want to maintain a $60k car?
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05-04-2012, 10:15 AM | #17 |
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you have 40k cash to pay but you want to avoid paying 4k in taxes to possibly go to jail?
what is your major btw? usually most foreign students are smart or rich. If you are rich you can pay the 4k, if you are smart you would not cheat the system and/or post your illegal activies online in broadcast media (forum). Hmmm. |
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05-04-2012, 12:35 PM | #18 | |
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05-04-2012, 01:20 PM | #20 | |
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You live in a communist country, THAT SUCKS! |
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05-04-2012, 09:41 PM | #21 |
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05-05-2012, 07:39 AM | #22 | |
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