BMW M3 Forum (E90 E92)

BMW Garage BMW Meets Register Search Today's Posts Mark Forums Read


Go Back   M3Post - BMW M3 Forum > M3 (E90 / E92 / E93) > New and Preowned M3 Pricing, Ordering, Tracking / European Delivery / Dealer Reviews
 
INDustry distribution
Post Reply
 
Thread Tools Search this Thread
      05-01-2012, 07:23 PM   #1
maxmak
New Member
 
Drives: M3 E93
Join Date: May 2012
Location: Los angeles

Posts: 18
iTrader: (0)

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.
maxmak is offline  
0
Reply With Quote
      05-01-2012, 07:33 PM   #2
Raptor251
ESS Dreaming
 
Raptor251's Avatar
 
Drives: 2011.5 e92 m3/Ford Raptor 6.2
Join Date: Jan 2011
Location: San Diego

Posts: 870
iTrader: (1)

I would look on the IRS website
Raptor251 is offline   United_States
0
Reply With Quote
      05-01-2012, 07:50 PM   #3
maxmak
New Member
 
Drives: M3 E93
Join Date: May 2012
Location: Los angeles

Posts: 18
iTrader: (0)

Quote:
Originally Posted by Raptor251 View Post
I would look on the IRS website
i dont thing thats work for me, because i am an exchange student, i only have visa.
maxmak is offline  
0
Reply With Quote
      05-01-2012, 08:24 PM   #4
tibra1
Banned
 
Drives: 2011 ZCP M3 - 2007 335i crashd
Join Date: Apr 2009
Location: NYC

Posts: 6,777
iTrader: (4)

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
tibra1 is offline   No_Country
0
Reply With Quote
      05-01-2012, 09:04 PM   #5
DARK_M3
Banned
 
Drives: 08 E90, 89 Grand Wagoneer
Join Date: Mar 2012
Location: So Cal

Posts: 1,294
iTrader: (3)

I don't understand how you sell a gift?

Anyway, sounds shady.
DARK_M3 is offline  
0
Reply With Quote
      05-01-2012, 09:25 PM   #6
urBan_dK
First Lieutenant
 
urBan_dK's Avatar
 
Drives: 2008 E90 M3
Join Date: Jan 2012
Location: Mill Creek, WA

Posts: 357
iTrader: (2)

Garage List
Quote:
Originally Posted by DARK_M3 View Post
I don't understand how you sell a gift?

Anyway, sounds shady.
It's 100% shady, illegal, and unethical.
urBan_dK is offline   United_States
0
Reply With Quote
      05-02-2012, 12:26 AM   #7
maxmak
New Member
 
Drives: M3 E93
Join Date: May 2012
Location: Los angeles

Posts: 18
iTrader: (0)

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.
maxmak is offline  
0
Reply With Quote
      05-02-2012, 07:24 AM   #8
roastbeef
Captain
 
roastbeef's Avatar
 
Drives: E92 M3
Join Date: Nov 2010
Location: Orange County, CA

Posts: 695
iTrader: (0)

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.
__________________
roastbeef is online now   United_States
0
Reply With Quote
      05-02-2012, 08:47 AM   #9
Poofyo101
Major
 
Poofyo101's Avatar
 
Drives: e92 ///M3
Join Date: Apr 2009
Location: NC

Posts: 1,179
iTrader: (9)

Garage List
1988 BMW M3  [0.00]
1988 BMW M3  [0.00]
2012 BMW M3  [0.00]
1990 BMW M3  [0.00]
Follow the rules. Pay the taxes. Simple as that. Then you have nothing to worry about.
__________________
12 E92 M3-AW/FR-20" BBS LM-Painted Reflectors-BMW Gloss Black Grills + Gills-BMW Performance LED Wheel-BMW Carbon Performance Spoiler-Akra Evolution-Stoptech Trophy
Poofyo101 is offline  
0
Reply With Quote
      05-02-2012, 09:05 AM   #10
Raptor251
ESS Dreaming
 
Raptor251's Avatar
 
Drives: 2011.5 e92 m3/Ford Raptor 6.2
Join Date: Jan 2011
Location: San Diego

Posts: 870
iTrader: (1)

Quote:
Originally Posted by roastbeef View Post
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.
this...
Raptor251 is offline   United_States
0
Reply With Quote
      05-02-2012, 11:14 AM   #11
Hurricane
Lieutenant
 
Hurricane's Avatar
 
Drives: 2012 E92 M3
Join Date: Aug 2011
Location: New England

Posts: 455
iTrader: (0)

Garage List
2012 E92 M3  [5.00]
When and if you register the car in CA at the DMV you will most likely be taxed on the vehicle.
Hurricane is offline   United_States
0
Reply With Quote
      05-02-2012, 12:22 PM   #12
BMW Fanatic
Banned
 
Drives: slow
Join Date: Jul 2009
Location: Calgary

Posts: 3,314
iTrader: (11)

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).
BMW Fanatic is offline   Canada
0
Reply With Quote
      05-02-2012, 02:42 PM   #13
DCC
Lieutenant
 
Drives:
Join Date: Jan 2008

Posts: 418
iTrader: (0)

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.
__________________

2013 X5 35i
2011 M3 Sedan
2002 Z3 M Coupe
DCC is offline  
0
Reply With Quote
      05-04-2012, 01:15 AM   #14
maxmak
New Member
 
Drives: M3 E93
Join Date: May 2012
Location: Los angeles

Posts: 18
iTrader: (0)

Quote:
Originally Posted by DCC View Post
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.
i have a friend who have a Nissan altima that was gifted by his older brother. And the car worth like 15000. he doesnt need to pay any tax at all.
anyway Thanks for you information.
maxmak is offline  
0
Reply With Quote
      05-04-2012, 01:17 AM   #15
tibra1
Banned
 
Drives: 2011 ZCP M3 - 2007 335i crashd
Join Date: Apr 2009
Location: NYC

Posts: 6,777
iTrader: (4)

You dont pay tax on gifts
tibra1 is offline   No_Country
0
Reply With Quote
      05-04-2012, 08:49 AM   #16
Edjay
First Lieutenant
 
Drives: 08 E90 AW, 76 2002
Join Date: Jul 2011
Location: Sacoftomatoes Ca

Posts: 346
iTrader: (0)

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?
Edjay is offline  
0
Reply With Quote
      05-04-2012, 10:15 AM   #17
Raja Ventureshield
Major General
 
Raja Ventureshield's Avatar
 
Drives: BMW M3 coupe
Join Date: May 2007
Location: Northern VA

Posts: 5,613
iTrader: (6)

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.
Raja Ventureshield is offline   United_States
0
Reply With Quote
      05-04-2012, 12:35 PM   #18
Crimson92
Smiling Politely
 
Crimson92's Avatar
 
Drives: Like a boss
Join Date: Jun 2007
Location: Whales Vagina

Posts: 28,609
iTrader: (3)

__________________
Quote:
Some people are like slinkies...not really good for much but you can't help but smile when you see one tumble down the stairs"
Crimson92 is offline   United_States
0
Reply With Quote
      05-04-2012, 12:58 PM   #19
phusion974
Lieutenant
 
phusion974's Avatar
 
Drives: OE Tuned C63
Join Date: Oct 2010
Location: L.A.

Posts: 435
iTrader: (0)

2 things are certain in life, death and taxes.
Your dreaming if you think your not gonna pay sales tax in California.
phusion974 is offline   Armenia
0
Reply With Quote
      05-04-2012, 01:20 PM   #20
Raptor251
ESS Dreaming
 
Raptor251's Avatar
 
Drives: 2011.5 e92 m3/Ford Raptor 6.2
Join Date: Jan 2011
Location: San Diego

Posts: 870
iTrader: (1)

Quote:
Originally Posted by [B
BMW Fanatic;11880050]You guys have to pay tax even on a private sale? That sucks!!!!![/b]

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).

You live in a communist country, THAT SUCKS!
Raptor251 is offline   United_States
0
Reply With Quote
      05-04-2012, 09:41 PM   #21
BlackJetE90
Colonel
 
Drives: E90
Join Date: Jul 2007
Location: e90

Posts: 2,219
iTrader: (0)

Quote:
Originally Posted by roastbeef View Post
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.
+1

Pay your tax POS. I hope you money shift your M3.
BlackJetE90 is offline  
0
Reply With Quote
      05-05-2012, 07:39 AM   #22
Eric335
Colonel
 
Eric335's Avatar
 
Drives: 2007 E92 SG 335i 6MT
Join Date: Apr 2011
Location: SW Florida

Posts: 2,494
iTrader: (0)

Garage List
2007 BMW 335i  [3.83]
Quote:
Originally Posted by tibra1 View Post
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
this^^

__________________
Eric335 is offline   United_States
0
Reply With Quote
Post Reply

Bookmarks

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump


All times are GMT -5. The time now is 05:54 AM.




m3post
Powered by vBulletin® Version 3.7.0
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.
1Addicts.com, BIMMERPOST.com, E90Post.com, F30Post.com, M3Post.com, ZPost.com, 5Post.com, 6Post.com, 7Post.com, XBimmers.com logo and trademark are properties of BIMMERPOST