Taxes on Lease transfers??

PeteM6 · 05-07-2009, 03:16 PM

Hi guys, I'm interested in taking over an M3 lease that is located in NC and im located in Houston, TX. My question is, do i have to pay the 6.5% tax of the total vehicle price when i register the vehicle in Texas? The person who I would be taking over the lease stated that the monthly payment of the car already included taxes. I want to take over the lease, but I dont want to be surprised with a 3k plus bill when I get to the DMV here in Texas.

Ive searched on the forums, and even called my local DMV and they cant tell me because they dont know North Carolina's laws and taxes. Thanks in advance for any help.

gobuffs · 05-07-2009, 03:40 PM

Pretty sure the answer is yes, you will have to pay taxes on it in Texas. Depending on how NC does it, they might be able to take the taxes out of it.

05-07-2009, 03:16 PM	#1
PeteM6 Second Lieutenant 33 Rep 243 Posts Drives: 2015 M5 CP Join Date: Feb 2008 Location: Texas iTrader: (2)	Taxes on Lease transfers?? Hi guys, I'm interested in taking over an M3 lease that is located in NC and im located in Houston, TX. My question is, do i have to pay the 6.5% tax of the total vehicle price when i register the vehicle in Texas? The person who I would be taking over the lease stated that the monthly payment of the car already included taxes. I want to take over the lease, but I dont want to be surprised with a 3k plus bill when I get to the DMV here in Texas. Ive searched on the forums, and even called my local DMV and they cant tell me because they dont know North Carolina's laws and taxes. Thanks in advance for any help.
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05-07-2009, 03:40 PM	#2
gobuffs Captain 74 Rep 709 Posts Drives: E30 M3 S54 (race car) Join Date: Mar 2008 Location: Texas iTrader: (4)	Pretty sure the answer is yes, you will have to pay taxes on it in Texas. Depending on how NC does it, they might be able to take the taxes out of it.
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