Nevada registration
12-31-2018, 10:58 AM
#91
12-31-2018, 01:46 PM
#92
12-31-2018, 01:54 PM
#93
With the new federal tax laws, State And Local Taxes (SALT) deductions are limited to $10K. If my preliminary calculation holds, it looks like I will be using the new standard deduction of $24K for married couples instead of itemizing for the first time in 30+ years.
12-31-2018, 04:32 PM
#94
Three Wheelin'
Thread Starter
Originally Posted by devenh
With the new federal tax laws, State And Local Taxes (SALT) deductions are limited to $10K. If my preliminary calculation holds, it looks like I will be using the new standard deduction of $24K for married couples instead of itemizing for the first time in 30+ years.
01-27-2019, 12:36 AM
#95
Does the trade in sales tax credit only apply when trading in a car to a dealer?
What happens if I private party sell my car, take the plates from it and use on a new vehicle purchase? Would the DMV give me trade in credit? I feel like this happened randomly a long time ago for me when I sold a used car and bought a new car within 30 days of each other, but I may be mistaken as it is a foggy recollection. I know they give you credit for the cancelled remainder registration, but this is different question.
Trying to find a way to cut that sales tax bill on the incoming 2RS, especially if I'm going to sell my 3RS.
What happens if I private party sell my car, take the plates from it and use on a new vehicle purchase? Would the DMV give me trade in credit? I feel like this happened randomly a long time ago for me when I sold a used car and bought a new car within 30 days of each other, but I may be mistaken as it is a foggy recollection. I know they give you credit for the cancelled remainder registration, but this is different question.
Trying to find a way to cut that sales tax bill on the incoming 2RS, especially if I'm going to sell my 3RS.
01-27-2019, 09:33 PM
#97
Advanced
Does the trade in sales tax credit only apply when trading in a car to a dealer?
What happens if I private party sell my car, take the plates from it and use on a new vehicle purchase? Would the DMV give me trade in credit? I feel like this happened randomly a long time ago for me when I sold a used car and bought a new car within 30 days of each other, but I may be mistaken as it is a foggy recollection. I know they give you credit for the cancelled remainder registration, but this is different question.
Trying to find a way to cut that sales tax bill on the incoming 2RS, especially if I'm going to sell my 3RS.
What happens if I private party sell my car, take the plates from it and use on a new vehicle purchase? Would the DMV give me trade in credit? I feel like this happened randomly a long time ago for me when I sold a used car and bought a new car within 30 days of each other, but I may be mistaken as it is a foggy recollection. I know they give you credit for the cancelled remainder registration, but this is different question.
Trying to find a way to cut that sales tax bill on the incoming 2RS, especially if I'm going to sell my 3RS.
btw I'm in Reno also, when you get your 2RS I'd love to check it out on one of the local club drives or C&C.
01-27-2019, 10:16 PM
#99
There's no tax credit in that situation, only when traded to a dealer. I "sold" my '18 PTS GT3 in early Nov. to an out of state dealer but was able to get them to coordinate with my local dealer so I could get "pre-trade" tax credit on the incoming 3RS even though the car wasn't scheduled to arrive for another three months. This saved me close to $20k on the 3RS by doing it this way. The only caveat to pre-trade tax credit is that your dealership must hold on to all of your trade equity until the new car arrives in order for it to be considered a trade. In other words, if you demand they cash you out the trade equity since you don't want them holding your $200k+ for 2-3 months until the new car arrives, you forfeit all available credit because at that point it's technically not a trade, it's just you selling your car.
btw I'm in Reno also, when you get your 2RS I'd love to check it out on one of the local club drives or C&C.
btw I'm in Reno also, when you get your 2RS I'd love to check it out on one of the local club drives or C&C.
What happens if I buy a new car from an out of state dealer and trade a car in to them but register the car in NV, do I still get the sales tax credit? Or does the dealer that I purchase the new car from has to be a dealer located in NV?
01-28-2019, 02:32 AM
#100
Advanced
^Yes they receive the sale proceeds but it’s applied as trade equity for me. That’s how it qualifies for tax credit. If I cash out my trade equity when they receive it and then put it towards the new car months later it’s just a new retail sale with no trade and thus I’d pay full sales tax on the new transaction. And to qualify I believe the dealer needs to be in NV.
01-28-2019, 02:39 AM
#101
Advanced
Yes Bill Pearce, my ETA is also 2/8 so our cars will most likely be on the same transport truck. They’re currently being processed at the Port of Benicia so we’re getting very close!
01-28-2019, 01:10 PM
#103
Advanced
02-14-2019, 07:28 PM
#104
So, I got my paperwork to register my 2RS from the dealer and they put in the final MSRP rather than the base MSRP. I just talked to the DMV to see if they would adjust it and they said talk to the dealer. Left a VM with the dealer. I'm certain this will be a headache.
Who did you talk to at the DMV that was able to comprehend the issue?
Who did you talk to at the DMV that was able to comprehend the issue?