How much should the DMV transfer tax be in CA?? I think they made a mistake.

[anthony]

I finally got around to putting the 911 in my name at DMV. I was expecting the transfer/use tax to be the same as sales tax and that my DMV bill would have been over $1K.

Instead it only cost $235 (fees plus $185 in tax). Did they make a mistake or are older cars taxed at a different rate.

I've searched the DMV site and can't find any reference to the actually rate used to calculate the tax.

[aways]

did you recently purchase the car? If so, when you transferred the
car to your name they should have asked you for the purchase price.
The tax is a sales tax based on the purchase price (7.5% I think).

[anthony]

Yes, I purchased the car a month ago. I declared the full purchase price on the back of the title. They obviously didn't charge me anywhere close to 7.5%.

[aways]

wow! consider yourself very lucky...

[temo79]

Wow! that easy? is this car from out of state? what year?
thanks

[Sonic dB]

Its a mistake. Feel lucky right now, but dont go spending that money for a while as you may hear from them again.

Tax on my 911 was about $1500. It was from out of state.

[anthony]

wow! consider yourself very lucky...

Maybe, until the franchise tax board comes knocking at my door, calling me a cheat.

The car is an '81 - see my signature.

[singpilot]

Anthony.

Delete this thread.

Big brother is watching.

[addictionMS]

did you pay tax in a different state? if so they will not charge you twice, they will deduct the tax paid else where.

Jim

[anthony]

No out of state foo. Just a simple in state party to party purchase.

Anyone know where to find the actual percentage that you are supposed to pay?

[johnnyo]

Did you trade in another car towards your purchase if so the value of the trade in would be deducted from your purchase price and the difference would be subject to sales tax. I belive this to be accurate, but you may want to check applicable laws in your state.

[kjb]

I had to pay something like 8.25% in tax last summer here in California after buying my 911 from directly from a private party.

/ J

[anthony]

I guess I got lucky until of course the franchise tax board nazis catch up with me. :-)

At least I didn't lie on the form!

[Zeke]

The tax rate is the same as what your residence county rate is. LA= 8.25% OC=7.75.

[lateapex911]

does anyone else see this as a form of double jeopardy?

Lets say Bob buys a new car at the dealer. he pays $60,000.00, and pays tav of $4,500. A year later his wife is pregnant so he sells it to get a minivan. Joe buys it for $40,000, and then pays tax again for $3,000.00
Then Joe goes to grad school, needs the cash and sells it fast for $30,000.00 and the new buyer shells out 2,250.00 in tax.

So, in barely 3 years, the car brings in about $10,000.00 in revenue! (which is about 33% of its 3yr old value!)

Whats up with that???

[aways]

does anyone else see this as a form of double jeopardy?

Lets say Bob buys a new car at the dealer. he pays $60,000.00, and pays tav of $4,500. A year later his wife is pregnant so he sells it to get a minivan. Joe buys it for $40,000, and then pays tax again for $3,000.00
Then Joe goes to grad school, needs the cash and sells it fast for $30,000.00 and the new buyer shells out 2,250.00 in tax.

So, in barely 3 years, the car brings in about $10,000.00 in revenue! (which is about 33% of its 3yr old value!)

Whats up with that???

That's your socialist government at work... All kinds of taxes
are multiple. Consider the inheritance tax, the capital gains
tax, etc. No recourse but to lie to the DMV about what you paid...

[lateapex911]

Originally posted by aways
That's your socialist government at work... All kinds of taxes
are multiple. Consider the inheritance tax, the capital gains
tax, etc. No recourse but to lie to the DMV about what you paid...

Which, no doubt, they probably already account for when tey set the rates!

[audi2.7t]

Originally posted by aways
That's your socialist government at work... All kinds of taxes
are multiple. Consider the inheritance tax, the capital gains
tax, etc. No recourse but to lie to the DMV about what you paid...

No need to lie here ,no bill of sale ,signed title with no sale price or date.......

[jtkkz]

Average of about 10% (tax and dmv fees) from the selling price.

[anthony]

I figured it out. She dropped the "1" from the purchase price so I didn't pay tax on that 10,000. It feels like Monopoly - "DMV Error in Your Favor Collect $1000"!