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01-08-2014, 02:46 PM | #1 |
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Join Date: Aug 2012
Posts: 56
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Any Vermont dealers here?
Want to know if DMV charges VT dealers 6% sales tax when they title a car in the dealers name. I'm not VT but may have to title a salvage 2013 there and the DMV says I'd pay tax. And not just on the price I paid, $5,000, but the NADA value less a little off for salvage, but still at $13,000.
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01-10-2014, 08:55 AM | #2 |
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Join Date: Jul 2010
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Vermont Dealers
As a VT dealer I can tell you that ANYONE who titles a vehicle in the state of Vermont will pay tax, doesnt matter individual or dealer and taxable amount is based on NADA low book value regardless of purchase price. Only exception to that amount is a dealership appraisal form can be done by a Vermont licensed dealer but only deductions that can legally be made from NADA low book are for safety related issues that would prevent the vehicle from passing a VT State Inspection, ie, bald tires, broken windshield, and the like.
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01-10-2014, 09:00 AM | #3 |
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Join Date: Aug 2012
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I spoke to VT DMV and was told that if a VT dealer titles a car in the dealers name and without registration, there is no tax. Maybe they told me wrong?
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01-10-2014, 09:18 AM | #4 |
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Our tax is a combined purchase and ""use"" tax, DMV figures if vehicle is going to be registered someone is going to ""use"" it, hence the tax is required. Frankly, have never run into an issue of title only with out registration portion, so if that is what DMV told you,( hopefully you got a name to with that answer) it may very well be correct. Sorry if I may have steered you incorrectly.
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01-10-2014, 09:57 AM | #5 |
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I just have to find a VT dealer that would title it and reassign it back for a reasonable fee to save the $600-$800 tax DMV would charge.
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