Dang! That does suck...
Naw, I was just doing some research.
Dang! That does suck...
Naw, I was just doing some research.
Sprint #870
Rockstar Racing II #26
"ChopStix Mafia" member 001
Dang! That does suck...
Naw, I was just doing some research.
Sprint #870
Rockstar Racing II #26
"ChopStix Mafia" member 001
It's about to start sucking a LOT more.
See below. Buy your new tow vehicle or bike in the next week or pay more later.
http://www.dfw.com/mld/dfw/15576859.htm
quote:Used-car sales tax bill faces changeBy ANTHONY SPANGLER
STAR-TELEGRAM STAFF WRITER
Used-car buyers beware — of your sales tax bill.
Starting Oct. 1, tax offices across Texas will use a new system to determine sales taxes on used-car purchases, other than through licensed dealers, which could set the value at more than someone actually pays for the vehicle.
Tarrant County is considering placing deputies or constables at tax offices when the new law takes effect.
“It’s going to be a little bit of a shock to some people,” said Betsy Price, Tarrant County tax assessor/collector. “We might have to charge them a lot more if the vehicle is valued higher.”
Called “standard presumptive value,” tax assessor/collectors will use a Texas Department of Transportation guide to determine a vehicle’s value, regardless of how much a person pays for the car.
Buyers should expect to pay tax on at least 80 percent of the state-determined value, even if they paid less than that for the vehicle. State sales tax on used cars is 6.25 percent.
Mary Nell Mathis, tax advisor to consumer advocacy group Common Cause Texas, said the new guidelines could be fair.
“A $500 difference in the price of the car would only be $31.25 difference in sales tax,” she said. “For most people, that’s hardly worth arguing over. Some people will win and some people will lose.”
- IN THE KNOW Tax-sticker shock
New state guidelines meant to prevent fraud in used-car sales among private parties could mean higher sales taxes for used-car buyers.
Buyers will pay taxes based on a state assessment of the value, even if they paid less for the vehicle.
The law applies only to private transactions; it will not affect sales that go through licensed dealers.
A buyer can appeal the state’s value of the car within 20 working days of purchase by getting a licensed car dealer or insurance adjuster to appraise the vehicle and fill out state forms, a process that could cost as much as $300.
The measure was among several bills passed by the Texas Legislature to generate money for school financing.
OnRoad OffRoad Suspension - Ktech, JRI, Penske, Öhlins, MUPO, GP Suspension, RaceTech
512 636 0960
www.ororcycle.com
It's about to start sucking a LOT more.
See below. Buy your new tow vehicle or bike in the next week or pay more later.
http://www.dfw.com/mld/dfw/15576859.htm
quote:Used-car sales tax bill faces changeBy ANTHONY SPANGLER
STAR-TELEGRAM STAFF WRITER
Used-car buyers beware — of your sales tax bill.
Starting Oct. 1, tax offices across Texas will use a new system to determine sales taxes on used-car purchases, other than through licensed dealers, which could set the value at more than someone actually pays for the vehicle.
Tarrant County is considering placing deputies or constables at tax offices when the new law takes effect.
“It’s going to be a little bit of a shock to some people,” said Betsy Price, Tarrant County tax assessor/collector. “We might have to charge them a lot more if the vehicle is valued higher.”
Called “standard presumptive value,” tax assessor/collectors will use a Texas Department of Transportation guide to determine a vehicle’s value, regardless of how much a person pays for the car.
Buyers should expect to pay tax on at least 80 percent of the state-determined value, even if they paid less than that for the vehicle. State sales tax on used cars is 6.25 percent.
Mary Nell Mathis, tax advisor to consumer advocacy group Common Cause Texas, said the new guidelines could be fair.
“A $500 difference in the price of the car would only be $31.25 difference in sales tax,” she said. “For most people, that’s hardly worth arguing over. Some people will win and some people will lose.”
- IN THE KNOW Tax-sticker shock
New state guidelines meant to prevent fraud in used-car sales among private parties could mean higher sales taxes for used-car buyers.
Buyers will pay taxes based on a state assessment of the value, even if they paid less for the vehicle.
The law applies only to private transactions; it will not affect sales that go through licensed dealers.
A buyer can appeal the state’s value of the car within 20 working days of purchase by getting a licensed car dealer or insurance adjuster to appraise the vehicle and fill out state forms, a process that could cost as much as $300.
The measure was among several bills passed by the Texas Legislature to generate money for school financing.
OnRoad OffRoad Suspension - Ktech, JRI, Penske, Öhlins, MUPO, GP Suspension, RaceTech
512 636 0960
www.ororcycle.com
it's 6.25% not 0.0625% (that would be 0.000625)
regardless of the sales price. Gifts and trades are $5-10 as Keeno stated.
it's 6.25% not 0.0625% (that would be 0.000625)
regardless of the sales price. Gifts and trades are $5-10 as Keeno stated.
how is the state supposed to assign value to a vehicle WITHOUT an inspection.. Lets say I have a 98 Honda Civic... Book value says... $4000. Little do they know the hood is missing, the door had been kicked in, the passenger window is missing and 3rd gear has been blown out... How can they assign a value to something like that!! Everything is only worth what you can get for it. Having a car for sale and saying it worth $20,000 only works AFTER YOU SOLD IT!!!! I buy alot of older bikes and beater stuff.. fix it up... So I get penalized cause I find something worth $3000 and I only paid $800??? Welp.. I guess it's back to runnin' without tags.. it's worked for me for the last 7 years... lol!!!!!
how is the state supposed to assign value to a vehicle WITHOUT an inspection.. Lets say I have a 98 Honda Civic... Book value says... $4000. Little do they know the hood is missing, the door had been kicked in, the passenger window is missing and 3rd gear has been blown out... How can they assign a value to something like that!! Everything is only worth what you can get for it. Having a car for sale and saying it worth $20,000 only works AFTER YOU SOLD IT!!!! I buy alot of older bikes and beater stuff.. fix it up... So I get penalized cause I find something worth $3000 and I only paid $800??? Welp.. I guess it's back to runnin' without tags.. it's worked for me for the last 7 years... lol!!!!!
<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">Originally posted by Robert White:
it's 6.25% not 0.0625% (that would be 0.000625)
regardless of the sales price. Gifts and trades are $5-10 as Keeno stated. </div></div>yeah, math was never my strong point. [img]/ubbthreads/images/%%GRAEMLIN_URL%%/laugh.gif[/img]
Justin
Novice #406
<div class="ubbcode-block"><div class="ubbcode-header">Quote:</div><div class="ubbcode-body">Originally posted by Robert White:
it's 6.25% not 0.0625% (that would be 0.000625)
regardless of the sales price. Gifts and trades are $5-10 as Keeno stated. </div></div>yeah, math was never my strong point. [img]/ubbthreads/images/%%GRAEMLIN_URL%%/laugh.gif[/img]
Justin
Novice #406
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