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Taxes?!

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Old 07-06-2015 | 07:22 PM
  #31  
mtony's Avatar
mtony
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Originally Posted by VintageRacer
I agree. I am in about a 50% tax bracket (federal, state, and extra ObamaCare Medicare taxes).

It happens. I still managed to pay cash for a new 991. It was worth every dollar spent. You earn $200,000 to buy a $100,000 car.

In GA, there is a new law that allows you to avoid yearly car taxes by paying 6.5% up front. It's complicated. My old longhood cars were bought before the law changed. I am keeping them forever.

My 991 is still the best car that I've ever owned (Agate is the faster color).
I thought it was a good thing that they were getting rid of the old ad valorem tax until I realized that now you will pay a lot more unless you hold on to your cars for a long time.

Last edited by mtony; 07-07-2015 at 08:21 AM.
Old 07-06-2015 | 07:33 PM
  #32  
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991TurboS
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Originally Posted by VintageRacer
I agree. I am in about a 50% tax bracket (federal, state, and extra ObamaCare Medicare taxes).

It happens. I still managed to pay cash for a new 991. It was worth every dollar spent. You earn $200,000 to buy a $100,000 car.

In GA, there is a new law that allows you to avoid yearly car taxes by paying 6.5% up front. It's complicated. My old longhood cars were bought before the law changed. I am keeping them forever.

My 991 is still the best car that I've ever owned (Agate is the faster color).
I live in Georgia too, and really like the change in Georgia Ad Valorem road use tax as it applies to Dealer car sales. The downside is that private person to person car sales are now taxable. But with new car Dealer purchases, you pay the 6.5% (now 7%), when you buy the car, which is the same as the sales tax you would have paid anyways, and zero Ad Valorem taxes forever. For anyone keeping a car for a decent period of time, you can save thousands of dollars over a few years. I am sure the Ad Valorem on my TTS would have been well over a grand in 2015, but tag renewal was a measly $20 this year.

The Ad Valorem/registration fees on my wife's 2007 MDX was over $350 this year on the old system. My 2015 RDX registration fee was again, a measly $20.

I think, but could be wrong, that the max under the new system is 7%, and it does not go higher. Really no different than the current sales tax rate we have anyways. You pay 7% and no sales tax, not 7% plus sales tax.



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