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[martys]

I had a similar situation up here in Canada when I was selling my truck ,  I googled the e-mail address and phone number that the individual was using and all kinds of SCAM reports popped up.  You might want to try that to put your mind at ease.

Marty

[rayz1951]

You only pay sales tax on the difference between the trade and the price of a new bike?

[2harleys]

You only pay sales tax on the difference between the trade and the price of a new bike?

that is the law in Colorado, your state may be different.  You have already paid the taxes on your trade when you bought it.

[rayz1951]

I didn't realize that.  Here in Michigan the state gets their pound of flesh every time you sell a vehicle, for the selling price not the difference.  Maybe I should go to Denver to visit my daughters and sell it out their.

[2harleys]

I didn't realize that.  Here in Michigan the state gets their pound of flesh every time you sell a vehicle, for the selling price not the difference.  Maybe I should go to Denver to visit my daughters and sell it out their.

Re-read what i posted. That only works when you trade it for another. It does not work if you sell and then go someplace else to buy a new one. Trade only. Sometimes it works to your advantage to trade, and sometimes it works to your advantage to sell out right. Depends on what the market will bring on a sale compared to what they will give you on your trade. Plus it might be worth a few lost bucks on the trade, just so you do not have the hassle of Craigslist and e-bay buyers to deal with??

[rayz1951]

That is what I understood.  I should go to Denver, trade the old for a new.  In MI. you pay the sales tax on the total cost of a new bike, if the bike is $20,000 and your trade in is $15,000 you pay the sale tax on $20,000 not $5000. Like I said MI. wants their pound of flesh, the rotten bastards!!

[Grizzly]

That is what I understood.  I should go to Denver, trade the old for a new.  In MI. you pay the sales tax on the total cost of a new bike, if the bike is $20,000 and your trade in is $15,000 you pay the sale tax on $20,000 not $5000. Like I said MI. wants their pound of flesh, the rotten bastards!!

That's crazy!  Even George Costanza doesn't "double dip".

[CowboyBagger]

That is what I understood.  I should go to Denver, trade the old for a new.  In MI. you pay the sales tax on the total cost of a new bike, if the bike is $20,000 and your trade in is $15,000 you pay the sale tax on $20,000 not $5000. Like I said MI. wants their pound of flesh, the rotten bastards!!

In Missouri, it doesn't matter if you sell your vehicle privately or trade it in, you only pay tax on the difference.  Just fill out a private sale form if you sell it yourself.  Oregon has no sales tax.  In Arizona, if you buy privately, you pay no sales tax.  From a dealer, they stick it to you.

Cowboy

[15CVOSG]

In Missouri, it doesn't matter if you sell your vehicle privately or trade it in, you only pay tax on the difference.  Just fill out a private sale form if you sell it yourself.  Oregon has no sales tax.  In Arizona, if you buy privately, you pay no sales tax.  From a dealer, they stick it to you.

Cowboy

Correct....

[scottt]

California collects sales tax on the entire purchase price, no break at all. You cannot go to a lower tax state to buy and then bring back to your state. When you go to register your bike they will charge you the sales tax for your state before issuing a license. No legal way to beat the system, best to pay your states sales tax and put the transaction behind ya.

[CowboyBagger]

California collects sales tax on the entire purchase price, no break at all. You cannot go to a lower tax state to buy and then bring back to your state. When you go to register your bike they will charge you the sales tax for your state before issuing a license. No legal way to beat the system, best to pay your states sales tax and put the transaction behind ya.

Short of moving to Oregon, you have the correct philosophy!

Cowboy