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...
Forum Discussion
wa8yxm wrote:
Well,,,, If you buy "in state" you normally pay taxes at time of sale, they will be a line item (Next to last such item) on the sales receipt. It will say either Sales Tax. or just Tax.. Using your calculator figure it out, You do know your state's sales tax rate right.. Mine is six percent so on a 100,000 purchase I'd pay 6,000 in sales tax So divide (Tax*100/SubTotal = Percentage tax paid)
If you bought out of state you pay your DMV USE (not sales) tax based on the sales receipt as well. But if the receipt they sent you is bigger than what you paid.. You have a problem and need to fix it.
I'm jealous. Our sales tax is 8.65.
I panicked last night when I looked at the title, but it does make sense that we would just pay sales tax on the purchase price. I've never really given it a lot of thought with other vehicles, campers, etc. that we have bought, because I've never seen such a difference between MSRP and what we actually paid.
I'm anxious to call on Monday and see what property tax will be. So tired of paying an ungodly amount of money for property taxes. Ugh.
