taxes on used versys? - Kawasaki Versys Forum
 
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post #1 of 8 (permalink) Old 05-21-2010, 02:29 PM Thread Starter
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taxes on used versys?

Not sure if this is the right forum or not, but am wondering-when you buy a used bike out of your state do you have to pay taxes on it and if so how do you do this? thanks
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post #2 of 8 (permalink) Old 05-21-2010, 02:51 PM
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In Illinois, you pay taxes on any vehicle that you license--usually when you license it. I know in some states you do not pay taxes on used but it will be determined by the state you in which you live . Check with the state department of motor vehicles and they will probably be able to tell you.

Dave
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post #3 of 8 (permalink) Old 05-21-2010, 02:51 PM
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Are you asking about how to register a vehicle in your state that you purchased out of state and paid no sales tax on? I'm not sure how that works but several years ago in Texas the sales tax was based on the price you paid for the vehicle but too many private sales ruined this and they cheated and agreed to show a much lower price so the buyer could save on the sales tax. This forced the state to use NADA used values for the vehicle which is not always accurate especially if the vehicle is not running and needs major work, etc. This happened to me in 2008 when I bought a used 1995 Saturn SL2 with a bad engine. Only paid $325 for the whole car but when getting it registered they made me pay MORE taxes based on the same car as if it were running. WTF?! I could have easily showed it as a gift and only paid $10 but I try to be honest and was all set to pay tax on $325 but they said the car was worth $1500 so I was force to pay tax based on that amount. I even had a bill of sale but they said it was not valid.

My advice is to check with your local tax comptroller where you register vehicles. They probably have a website you can download forms from and probably have an FAQ that answers your question.



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Not sure if this is the right forum or not, but am wondering-when you buy a used bike out of your state do you have to pay taxes on it and if so how do you do this? thanks
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post #4 of 8 (permalink) Old 05-21-2010, 03:48 PM
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In Missouri,
you only need to pay taxes on it if you want to register and license it....
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post #5 of 8 (permalink) Old 05-21-2010, 03:51 PM
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At what ever price is on the bill of sale, hint-low!

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post #6 of 8 (permalink) Old 05-21-2010, 03:57 PM
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In Pennsylvania you pay 6% tax of the purchase price on each vehicle you buy, whether it is new or second (or fifth) hand.
The easy way to do this is go to a Auto Tag place and have them do all the forms, it is very quick and easy.
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post #7 of 8 (permalink) Old 05-21-2010, 05:16 PM
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Quote:
Originally Posted by Element View Post
At what ever price is on the bill of sale, hint-low
key point there. you'll get the seller to sign a bill of sale, take that to DMV, pay taxes and registration, get your plate. if your state requires inspection, don't forget to have done before you go to DMV (yes, go ahead and ride without a plate... with all your docs).

have your insurance info before you go to DMV. also bring the out-of-state title, if you have it.

you can just type up a bill of sale. include this info:

make/model
VIN
vehicle description/mileage
purchase price
sellers name/contact info/signature
buyers name/contact info/signature

when you fill in the bill of sale info, remember, this is a legal document.

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post #8 of 8 (permalink) Old 05-21-2010, 10:02 PM
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Hi,

Here in Georgia we only pay sales tax on bikes bought from dealers. If we buy from an individual, no sales tax. If we buy from a dealer and use a trade-in they subtract the value of your trade-in for the sales tax.

Glenn
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