E90Post
 


GT Haus
 
BMW 3-Series (E90 E92) Forum > BMW E90/E92/E93 3-series General Forums > New & Preowned BMW Ordering / Pricing / Tracking Information Forum (including European Delivery) > Should I be getting a Tax Break?



Reply
 
Thread Tools Search this Thread
      02-15-2006, 09:07 AM   #1
jmatero
Mac Guru
 
Drives: 2011 Mustang GT
Join Date: Dec 2005
Location: San Jose, CA

Posts: 100
iTrader: (0)

Question Should I be getting a Tax Break?

Hi all... I live in NY State... I traded in 2 vehicles for my 330i (still waiting for delivery) and I was wondering: When I purchased cars in the past, I would pay tax on the difference between the trade-in price and the price of the new car... vs. tax on the WHOLE new vehicle value. Does that work for leasing too? My Dealer is charging tax on the vehicle sales price and says when leasing, the trades have no effect on tax owed. Thanks!!!
jmatero is offline   United_States
0
Reply With Quote
      02-15-2006, 01:55 PM   #2
espo
Captain
 
espo's Avatar
 
Drives: 2006 330xi
Join Date: Sep 2005
Location: Chicago, IL

Posts: 689
iTrader: (0)

The dealer should be charging you the tax based on the monthly payment (depreation plus interest) and not on the FULL sales price of the car.

Here a link to a NYS depart of Taxation Opinion on this exact issue (in fact, the request came from BMW). Note that the date on this is 2000, so I'm not sure if it still holds.

http://www.tax.state.ny.us/pdf/advis...es/a00_37s.pdf

I've never traded in a car for a leased on, so I'm not sure about how that effects it, but you should not have to pay sales take on the WHOLE cost of the car, only the part that you will be using (plus the interest on the lease).
__________________
E90 330xi Mystic Blue/Black Leather/Aluminum 6sp Manual ZSP/ZPP/ZCW/CA
F30 335i M-Sport.. Delivered ?????
espo is offline   United_States
0
Reply With Quote
Reply

Bookmarks

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Forum Jump


All times are GMT -5. The time now is 12:40 AM.




e90post
Powered by vBulletin® Version 3.7.0
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.
1Addicts.com, BIMMERPOST.com, E90Post.com, F30Post.com, M3Post.com, ZPost.com, 5Post.com, 6Post.com, 7Post.com, XBimmers.com logo and trademark are properties of BIMMERPOST