Mom sold car to me. Do I have to pay NYS DMV sales tax?
My mom sold a car to me. Am I supposed to pay the New York State DMV sales tax for the purchase of the vehicle? Or because I am her child, that I am exempt from the state sales tax?
Thanks for your time!
- Anonymous1 decade agoFavorite Answer
Since she sold you the vehicle, you will have to pay the regular amount of tax that is charged by New York state. You might ask your mother to list the vehicle as a "Gift" to you instead and that might cut down the amount of tax you would have to pay. What you might do is call the DMV office and ask them what the tax rate is on a vehicle if the vehicle was a gift to you. Maybe you will get lucky and not have to pay any tax at all but don't expect that though. The DMV can tell you exactly what the tax will be on the vehicle be it a gift or not.
- boogeywoogyLv 71 decade ago
My aunt sold me her old car. I called it a "gift" on the DMV transfer of title where the purchase price should be. If you don't do that, you must pay sales tax on the car and your mom is responsible for the income tax on the money you gave her. Tricky, huh?
- maxiLv 44 years ago
once you sell OR provide a motor vehicle to a determine it is called a "kin flow" and isn't any longer situation to smog or tax. yet you like extra type REG 256 assertion of knowledge. area A examine first field. area B examine boxes 4 & 5. turn it over and sign the backside of the paper. That type and the call is all you like. It expenditures $15 for the flow. you could acquire the type off the internet. Your motor vehicle isn't a contemporary subsequently...it is a kin flow. yet whilst it exchange right into a contemporary then: on condition that the motor vehicle exchange right into a contemporary do you write interior the vehicles KBB value. in case you place down $a million, that could improve crimson flag for the BOE (Board of Equalization) and it would come back and chew your ***. the reason to place down the actual value isn't for tax motives. it is what the DMV makes use of next 12 months for calculating registration expenditures.
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- RichLv 51 decade ago
Maybe look into her gifting the car to you. Were I live that would be exempt from tax.
- ?Lv 71 decade ago
No, but she may list the car as 'gift' on the title, and that will probably lessen the rate you have to pay.
- Anonymous4 years ago
You raise some good points in your question.
- 1 decade ago
every one pays
- Anonymous4 years ago
yes, it could be right
- 5 years ago
Not sure about this