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state sales tax exemption? - Kid Rock - 06-15-2016
getting close to finally paying my 65K truck note off, only 4 more notes! SO, as the time gets closer i know that i will be responsible for an EXCISE TAX or a SALES TAX of some kind. Well here in Louisiana the sales tax is about 10.9% or so... (the price we pay for having no PROPERTY TAX!)
so im looking at about $6500, to do the title transfer and etc... I've been researching ways to register my company with the state for sales tax exemptions and etc... Normally, i would probably just pay the money and be done with it but recently i just paid cash for my house and land so... im not quite stocked as i have been... just looking for ways to be creative and see if any of you have registered with your state to be exempt for these type of CASH grabs... I also have a 48' flatbed titled in my name, the title is a Georgia titled where i once lived, but to transfer it here the DMV wants to tax the VALUE of the trailer again!!! they've said Georgia will give me a 6% tax credit, leaving me with a 4% TAX on my already TITLED trailer!
what are my options besides the obvious? i know some people don't bother with even transferring titles ever, or for a while... seems like that would complicate 2290 fillings, insurance and etc... I'm still researching this but what is yall's experience on this matter?
Thanks in advance, and safe trails...
RE: state sales tax exemption? - hhow55 - 06-15-2016
Do you have any friends,or family in Texas ?
In Texas, we don't pay any sales or excise tax, as long as vehicle is used in interstate commerce
But be careful, some counties, like Harris County has personal property tax
The county I reside in, Jefferson county, has no property tax. When you register in my county, you simply pay a small registration fee. I think it's $33.00
RE: state sales tax exemption? - Kid Rock - 06-15-2016
(06-15-2016 )hhow55 Wrote: Do you have any friends,or family in Texas ?
In Texas, we don't pay any sales or excise tax, as long as vehicle is used in interstate commerce
But be careful, some counties, like Harris County has personal property tax
The county I reside in, Jefferson county, has no property tax. When you register in my county, you simply pay a small registration fee. I think it's $33.00
Wow. That county is great for business! That must be a huge relief.... Well no address' I could use in TX... It's crazy because I had to bring state law to my DMV the other day because they were wrong about me having to get finger prints for a state change CDL with HAZ-mat... So I already know they will tax me if I don't come with state law, or some expemption status of some kind... Lol crazy the amount of people they get over on, and most people just pay... But thanks
RE: state sales tax exemption? - hhow55 - 06-15-2016
Look into forming an llc, and transferring your assets into the llc
I think the best are Nevada or Delaware
This might save you some money
RE: state sales tax exemption? - Waterloo - 06-16-2016
In Michigan we are tax exempt, we call it "Rolling Stock". Still pay FET, but no state taxes if truck related, tires, parts, etc. You do need a business, LLC or Corp along with an EIN number.
RE: state sales tax exemption? - Kid Rock - 02-02-2017
Update to this: I did find a Louisiana rolling stock exemption for trucks that travel more than 80% of its miles outside the state of Louisiana
Exemption goes for truck and trailer