I am about to buy a used NSX located in North Carolina but i live in Texas. What is the best way to purchase the car and reduce my sales tax liability? Any ideas?
OneRedNSX said:I just registered / paid the taxes on mine. Bought it in Georgia and registered it in South Carolina.
you pay whatever your state's tax rate is based on the price that is written on the bill of sale / title.
here in SC, it is (for now) capped at $300/vehicle so I was more than happy to hand the SCDMV their 325 (25$ title fee) and be on my marry way... they are trying to remove the tax cap so you would have to pay 5% of your purchace price...
that would have moved my $325 up to $1350!
but yea, long story short, there really isn't anything you can do aside from pay cash and have the seller write a lower price on the title, because that is what the DMV goes off of when they calculate your bill.
NormRD said:You pay nothing to NC, you will have to pay TX sales tax on the purchased price when you register it here in texas. You should print the form out before hand so the seller can sign it.
GHOSTRIDER said:Norm is exactly right.
Being "creative" with the bill of sale documentation can save you a few bucks.