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      11-15-2012, 03:11 PM   #9
Tom K.
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Drives: '07 328iT, '13 Boxster
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Location: Maryland

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Quote:
Originally Posted by Reznick View Post
Yup, depends on where you live. In NY its as easy as one signature, but you will pay the taxes on the value of the car.
Same thing in MD - you pay tax when you register the car. And if you buy from a dealer, the sales tax is only paid on the difference between the new car price and the trade in value - but the dealer handles the transaction and collects the tax.

I suspect that by trading, both the OP and the other party will pay full sales tax according to how the state values each car upon registration.

Tom