Does selling your old car count as income and do you have to pay ...
Whether the money received from the sale of your car is taxable or not depends on if the car was for business vs. personal use. If the car has been used in a .

Whoops! Cash For Clunkers Payments Are Taxable! - Business Insider
Aug 25, 2009 . This is an intentional distortion in the law that is intended to favor dealers over private-party used car sales; if you sell your used car privately .

Selling a car and putting down 'gift' on the bill of sale when it ...
Selling a car and putting down 'gift' on the bill of sale when it's not . as a gift or for no particular reason would be federally taxable income.

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Is Selling Your Vehicle Considered Income on Your Taxes ...
If you've got an old car that you're selling, it might add to your tax bill if you make a profit on the sale. However, if you do have taxable income, you might be able .

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Sales taxes in the United States - Wikipedia, the free encyclopedia
Use tax is self assessed by a buyer who has not paid sales tax on a taxable purchase . as used cars, the sales tax can be charged on the same item indefinitely.

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Sales & Use Tax - Welcome to the Ohio Department of Taxation
. production of a product for sale. . on the highway [passenger cars; .

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A Guide to Sales and Use Tax
It describes the tax, what types of transactions are taxable and what both a buyer . Please note: Generally, casual sales of cars, boats or trailers are taxable, .

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Is Selling a Car Considered Taxable Income? - CarsDirect
Sep 21, 2010 . You're wondering if you've got taxable income from a car sale. Whether the money you receive from a car sale is taxable income depends on a .

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Sales and use tax - Welcome to the Ohio Department of Taxation
We suggest upgrading your browser to the latest version of your favorite Internet browser. Ohio. . Ohio Department of Taxation Sales & Use Tax . information on some of the special provisions that apply to motor vehicle and watercraft sales.

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Motor vehicle sales to nonresidents - Welcome to the Ohio ...
Ohio Department of Taxation Information Release . An Ohio resident must pay the sales tax on a motor vehicle that will be titled in and used in Ohio. In addition .

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Tax Topics - Topic 409 Capital Gains and Losses
Aug 11, 2012 . You have a capital gain if you sell the asset for more than your basis. . Losses from the sale of personal-use property, such as your home or car, are . If you have a net capital gain, that gain may be taxed at a lower tax rate .

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Vehicle Taxation | Vermont Department of Motor Vehicles
If you are claiming tax credit for a vehicle registered to you or your spouse or . Credit will be given for the purchase and use or sales tax paid on this vehicle to .

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NJ Division of Taxation - Motor Vehicle Casual Sales Notices ...
Dec 9, 2010. of Taxation must certify that the correct amount of sales tax has been paid on the actual purchase price of the vehicle. If a sales tax exemption .

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Motor Vehicles - Minnesota Department of Public Safety
vehicle are taxable. The following are not included in the taxable sales price if the charges are separately stated: • Trade-in allowance for a vehicle taken in trade .

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If I Sell My Car is it Taxable Income? |
If I Sell My Car is it Taxable Income?. Whether the proceeds from selling a vehicle must be reported as taxable income depends on various factors. The sale .

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Motor Vehicle Excise Tax - Taxation and Revenue Department ...
The Motor Vehicle Excise Tax applies to the sale of every motor vehicle that must be registered in the State of New Mexico. We presume that every time a vehicle .

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Common Myths and Misconceptions About Sales Taxes - Seven ...
Myth #1: If I buy a car in a sales tax-free state, I don't have to pay sales taxes . a business in a origin state, all sales you make would be taxable in that state.

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Nebraska Sales and Use Tax FAQs on Certain Services
. from motor vehicle washing services are taxable. If your nonprofit .

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Are sale proceeds of a car taxable income
Are sale proceeds of a car taxable income? In: Income Taxes [Edit categories]. Answer: Only if you made a profit; i.e., you received more than you paid for it.

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Taxable Receipt—How Discounts, Trade-Ins, and Additional ...
Jun 23, 2011 . If you sell a combination of taxable and nontaxable goods and services, . Manufacturer's rebates (e.g., a rebate on the purchase of a car or an .

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Sales Tax and Compensating Use Tax Pub. KS-1510 (Rev. 12-11)
of motor vehicles is a taxable transaction. When you buy a car, truck, or other vehicle from a registered dealer, you must pay the sales tax to the dealer. When .

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Labor Charges, Publication 108 - California State Board of ...
Your charges for services related to a taxable sale are generally taxable. This . would not apply to your itemized charges for installing a car stereo in a used car.

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Income Tax Guidelines for Selling a Car - CarsDirect
Mar 24, 2010 . Since businesses are allowed to deduct depreciation costs of a vehicle, a sale of a vehicle used for business may create taxable income. In fact .

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Applying Tax to Your Sales and Purchases - Board of Equalization
You sell a refrigerator and deliver it to your customer using your own vehicle. On the invoice, you .

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is a sales rebate considered taxable income
This is your basis on which you figure gain or loss if you sell the car, and depreciation if you use it for business." (Reference "Bribes, thefts and other taxable .

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