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
CHBurris wrote:The Texan wrote:
That is fraud on the dealers part, probably to satisfy "his" floorplan. I would call him and tell him that unless you receive a sales contract with the TRUE sale price, or a check made out to your state for the taxable amount on the $50K, you will file a complaint with his Attorney General and the CO DMV for fraud. His business license is worth more than the dollar amount of fraud he committed, so keep the pressure on him. I hate sleaze ball dealers that try this type of BS....
In our state the DMV requires sales tax be paid on the amount filled in on the title, so if KS is the same, yes you are going to pay on MSRP.
We will most definitely fight it if this is the case.
There is no reason, advantage, or attempted fraud for the dealer to list the MSRP on the title. The dealer should have given you a "buyers order" that would have detailed the transaction and the actual sales price. The "Texan" is assuming something that is just not true.
Do you in fact have a Colorado title? In most states, if you pay cash and wish to title out of state, they are going to give you the MSO(manufacturers statement of origin). The MSO and "buyers order" is then presented to your state of residency where you pay taxes and a Kansas Title(in this case) is issued. An MSO can look like a title but is not.
