Pay tax on MSRP or actual sale price?
We bought a new Fuzion a couple weeks ago in Colorado. Just got the title in the mail, and noticed that the price listed was the inflated MSRP, which was $50,000 more than we paid. So, we're sitting...
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I think there is some question, here, of whether you are talking about sales tax or personal property (excise) tax.
If you are talking about sales tax, I'm a little surprised you would have a title in hand without having already paid taxes. That is all governed locally, however, so I couldn't speak to it with confidence.
If you are talking about personal property taxes, I can tell you that, in MA, purchase price has nothing to do with it. They have their valuations and depreciations, and we pay based on that, regardless of the actual purchase price.
If you are talking about sales tax, I'm a little surprised you would have a title in hand without having already paid taxes. That is all governed locally, however, so I couldn't speak to it with confidence.
If you are talking about personal property taxes, I can tell you that, in MA, purchase price has nothing to do with it. They have their valuations and depreciations, and we pay based on that, regardless of the actual purchase price.
