Welcome to another edition of me ranting about the Texas Government's revenue.
Article Link
Some states such as Arizona do not even impose a sales tax on used cars. It is bad enough that Texas has one, but they are beginning to become sticklers about it. The Government wants to start making A LOT more money from used cars sales between private parties (not used dealership cars). So to do this, the DMV will begin charging sales taxes not based on what you bought the car for, but what the car SHOULD have been sold for, according to market valuations such as the Kelley Blue Book.
This is horrendous. We can no longer lie about the purchase prices of our used cars to save money on taxes. Of course, there is the usual way around this, by claiming the vehicle was a "gift". However I am sure there are many more stipulations than simply claiming it was a gift.
Subscribe to:
Post Comments (Atom)
1 comment:
Interesting, relevant, good, but not nearly deep enough. Take this further. Why did Texas pass the law? Is it OK to "cheat" on the sales tax? What's the history here?
Post a Comment