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If i say i sold my car for $200, how much would the taxes be when we go to the tax, title, and license place to switch the title?
I know i should call….but im having a lazy moment.
She is doing this to cut down on the taxes she has to pay, I just gave my brother n law a car and I think the lost I could put it to was $200 on the bill of sell. If I remember correctly I think the TT&L was close to 60 to 70 here in Texas.
It depends on the state. Some states go by the blue book value no matter what you pay for the car. Some accept a reasonable price, some will make you sign a statement declaring you paid less than the car’s blue book value (which is fair). A 2009 Cadillac may be worth $40,000.00 but if it’s wrecked it may be worth only $4,000.00
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