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SportTrac Discussion
General Sport Trac Discussion
Keep your Ford a Ford!
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<blockquote data-quote="Bill V" data-source="post: 554695" data-attributes="member: 54538"><p>RichL--California was the only example given, but I know firsthand that it is basically the same in several other states (MN, WI, and FL, among others), and I've definitely heard many times from many different sources that most states for which I don't have firsthand knowledge do have this. They can differ signficantly in things like minimum threshholds before it kicks in, or on what types of products they apply, but they are there.</p><p></p><p></p><p></p><p>In Minnesota, there's a section like that on the state income tax form. Also, if you purchase a vehicle, when you go to register it you need to declare the purchase price and pay tax on it if it was purchased from a private party or from out-of-state. Many people will skirt the system a bit--instead of paying, say, $10K for a car from a private party, they'll pay $6K, and also buy a comb from them for $4K--but it's plenty illegal, and if the car sale price that you claim varies significantly from fair market value, they will investigate. And many private sellers won't do that, as both the seller and buyer sign off on the purchase price, and if it's found to be fraudulent, both parties are in hot water.</p></blockquote><p></p>
[QUOTE="Bill V, post: 554695, member: 54538"] RichL--California was the only example given, but I know firsthand that it is basically the same in several other states (MN, WI, and FL, among others), and I've definitely heard many times from many different sources that most states for which I don't have firsthand knowledge do have this. They can differ signficantly in things like minimum threshholds before it kicks in, or on what types of products they apply, but they are there. In Minnesota, there's a section like that on the state income tax form. Also, if you purchase a vehicle, when you go to register it you need to declare the purchase price and pay tax on it if it was purchased from a private party or from out-of-state. Many people will skirt the system a bit--instead of paying, say, $10K for a car from a private party, they'll pay $6K, and also buy a comb from them for $4K--but it's plenty illegal, and if the car sale price that you claim varies significantly from fair market value, they will investigate. And many private sellers won't do that, as both the seller and buyer sign off on the purchase price, and if it's found to be fraudulent, both parties are in hot water. [/QUOTE]
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SportTrac Discussion
General Sport Trac Discussion
Keep your Ford a Ford!
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