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Transfer car registration without paying sales tax?
JoyMonkey:
My father in-law is giving me an old Volvo and says that there's some way of giving it to me for $1 that means I wouldn't have to pay sales tax when I go to register it.
I thought that everytime a vehicle switches hands, a sales tax based on the cars blue book value has to be paid. Anyone know anything about this stuff?
JackTucky:
You can always say it's a gift. I did this in NJ and didn't have a problem.
If you really want to fly under the radar, make it $100 and pay the $6 (here in NJ)
Art
JoyMonkey:
Well, it IS a gift. But I think the Massachusetts RMV charges 5% of the estimated blue-book-value of the car.
I guess I should just call my insurance agent.
Stingray:
In Oklahoma if the title transfers to a relative there's no tax.
-S
JoyMonkey:
I just called my insurance people and they said there's a gift form to fill out that means no tax.
You'd think I'd call them first before posting here, wouldn't you? Funny how my brain works these days.