Sales Tax
#1
Senior Member
Thread Starter
Sales Tax
I haven't seen anything about this on this forum. If you're doing a trade-in the value of your trade is treated as a discount (in Tennessee anyway). Example: if you get $10,000 for your trade you save another $1,00 (or so in taxes depending on your tax rate). This could make a big difference in whether you want to trade or try to sell your current vehicle yourself.
#2
One bad thing about Tn. is rebates are taxed.
#3
Fake Ballin for da Gram
iTrader: (12)
I haven't seen anything about this on this forum. If you're doing a trade-in the value of your trade is treated as a discount (in Tennessee anyway). Example: if you get $10,000 for your trade you save another $1,00 (or so in taxes depending on your tax rate). This could make a big difference in whether you want to trade or try to sell your current vehicle yourself.
#4
Senior Member
In Minnesota you only pay tax on the difference price! I think most states are that way.
#5
Senior Member
Thread Starter
#7
Senior Member
yes, in NV the Ford Rebates do Not come off the taxable value, although the trade in value does which means you need to get 10% more for your old truck in a private sale than as a trade-in to make it at all worthwhile. IIRC in CA you pay tax on the full cost of the new truck regardless of your trade
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#8
Senior Member
Thread Starter
#10
Senior Member
Varies by state. Michigan only gives you a small tax credit, and it has been posted before.
https://www.f150forum.com/f118/tradi...0/#post3993184
https://www.f150forum.com/f118/tradi...0/#post3993184
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LoneWolfTrucker (05-12-2017)