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.
Do you in fact have a Colorado Title? In most cases, where you pay cash on an out of state delivery, the dealer will give you a "buyers order" and an MSO(Manufacturers Statement of Origin). These two items, when taken to your home state DMV, are used to determine taxes owed and a title in the state of residency is issued. A title and MSO are similar in appearance.
The Texan is assumming fraud when there would be no reason for the dealer to list a higher sales price than actual and several disadvantages for them to do so.
