Taxes

Chain-Blue-Lightning · 03-11-2016, 08:54 PM

Hey guys,

I am looking for some counsel regarding the DMV and taxes.

Any thoughts or recommendations?

Nickdm3 · 03-11-2016, 09:23 PM

its better to pay the fine now then later with a lawyer to keep you out of jail.

GRUESOM3 · 03-11-2016, 09:25 PM

Good luck because people really gift a e9x m3

Chump change

oolas3 · 03-11-2016, 09:28 PM

In some states tax is determined by book value alone and it makes no difference what you paid or didn't pay.

fitzbane · 03-11-2016, 09:34 PM

I paid $1.3k at nc dmv for 29k purchase price.

Chain-Blue-Lightning · 03-11-2016, 09:36 PM

Quote:

Originally Posted by fitzbane

I paid $1.3k at nc dmv for 29k puchase price.

20k Purchase price ?

bkdore · 03-11-2016, 09:59 PM

My advice - if you are thinking about cheating on your taxes you shouldn't post about it in a public forum.

dparm · 03-11-2016, 10:53 PM

Quote:

Originally Posted by Chain-Blue-Lightning

Not to worried about it, will delete when I receive a majority vote.

Yeah, because web spiders would never crawl this page and archive it.

Chain-Blue-Lightning · 03-11-2016, 10:58 PM

Quote:

Originally Posted by dparm

Yeah, because web spiders would never crawl this page and archive it.

Maybe, but probability is very low.

Chain-Blue-Lightning · 03-11-2016, 11:45 PM

Whelp, looks like the consensus is to be ethical and pay my share, which is exactly what I'm gonna do.

Thanks for the feedback.

Flying Ace · 03-12-2016, 12:35 AM

Pay it. Any other way is tax fraud

lablake · 03-12-2016, 01:02 AM

Move to Oregon. No sales tax and cheap DMV fees :P

RickFLM4 · 03-12-2016, 11:46 AM

Like everyone else, I hate paying taxes and think some taxes are outrageous. However that is a separate issue and does not mean we don't have to pay whatever they are. When someone doesn't pay what they owe, they are effectively fucking over the rest of the taxpayers (in this case in your state). So, I agree with others - gotta pay them.

kprocivic · 03-12-2016, 02:18 PM

All the cars i purchased 5k and below i believe i did 500 for the purchase price. anything over that i list the actual price i paid. I had a buddy who had abought a 350z for 20k he put 1500 for the purchase price, insurance sent him a check for 1500 when it got totaled.

sirdaft1 · 03-12-2016, 05:51 PM

Quote:

Originally Posted by kprocivic

All the cars i purchased 5k and below i believe i did 500 for the purchase price. anything over that i list the actual price i paid. I had a buddy who had abought a 350z for 20k he put 1500 for the purchase price, insurance sent him a check for 1500 when it got totaled.

I've gotta throw the challenge flag on that one. Unless it was already a salvage vehicle, insurance companies pay based on market value.

kprocivic · 03-12-2016, 06:19 PM

Quote:

Originally Posted by sirdaft1

I've gotta throw the challenge flag on that one. Unless it was already a salvage vehicle, insurance companies pay based on market value.

could be I don't know the gist of the deal, but I'm 100 percent sure all he got was 1500. Maybe thats why it was a cash deal since salvage normally cannot be financed.

M3 Number 86 · 03-12-2016, 09:32 PM

Quote:

Originally Posted by kprocivic

All the cars i purchased 5k and below i believe i did 500 for the purchase price. anything over that i list the actual price i paid. I had a buddy who had abought a 350z for 20k he put 1500 for the purchase price, insurance sent him a check for 1500 when it got totaled.

LOL

OptionlessM · 03-14-2016, 03:16 AM

Quote:

Originally Posted by kprocivic

All the cars i purchased 5k and below i believe i did 500 for the purchase price. anything over that i list the actual price i paid. I had a buddy who had abought a 350z for 20k he put 1500 for the purchase price, insurance sent him a check for 1500 when it got totaled.

It's funny, but this is completely made up.

The insurance company does not ask the DMV for vehicle value.

I'm glad you guys feel righteous about paying sales tax on your used car purchases.

///M Power-Belgium · 03-14-2016, 06:29 AM

Guys...
Please...Do not complain , because you are actually in a tax paradise !
In Belgium it's like...
First year with the "BIV" (first time in traffic tax with a new owner ) is 10,000 Euro's !
+ we need to pay the yearly driver tax that's 2,000 Euro's !
So 10,000 + 2,000 = 12,000 Euro's taxes only for the first year !

The only thing I can say about the US taxes is ...
" God bless America "

Biorin · 03-15-2016, 10:10 PM

I was really hoping this would be a thread about taxation and tax law

03-11-2016, 08:54 PM	#1
Chain-Blue-Lightning Private First Class 30 Rep 141 Posts Drives: E92 M3 DCT, 2010 Mini S Join Date: Mar 2013 Location: Just West of Wonder iTrader: (2)	Taxes Hey guys, I am looking for some counsel regarding the DMV and taxes. Any thoughts or recommendations? Last edited by Chain-Blue-Lightning; 03-11-2016 at 10:54 PM..
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03-11-2016, 09:23 PM	#2
Nickdm3 Private First Class 17 Rep 144 Posts Drives: Bmw m3 Join Date: Oct 2015 Location: Chicago iTrader: (1)	its better to pay the fine now then later with a lawyer to keep you out of jail.
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03-11-2016, 09:25 PM	#3
GRUESOM3 Major 1105 Rep 1,321 Posts Drives: 3 NA cars and 1 Turbo car Join Date: Jan 2013 Location: NJ iTrader: (4)	Good luck because people really gift a e9x m3 Chump change
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03-11-2016, 09:28 PM	#4
oolas3 Captain 390 Rep 876 Posts Drives: BMW Join Date: May 2015 Location: United States iTrader: (0)	In some states tax is determined by book value alone and it makes no difference what you paid or didn't pay.
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03-11-2016, 09:34 PM	#5
fitzbane Private 12 Rep 83 Posts Drives: F80 M3 Join Date: Jan 2016 Location: Raleigh iTrader: (3)	I paid $1.3k at nc dmv for 29k purchase price.
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03-11-2016, 09:59 PM	#7
bkdore Second Lieutenant 106 Rep 251 Posts Drives: 2015 435i GC Join Date: Oct 2014 Location: Lafayette, Louisiana iTrader: (1)	My advice - if you are thinking about cheating on your taxes you shouldn't post about it in a public forum.
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03-11-2016, 11:45 PM	#10
Chain-Blue-Lightning Private First Class 30 Rep 141 Posts Drives: E92 M3 DCT, 2010 Mini S Join Date: Mar 2013 Location: Just West of Wonder iTrader: (2)	Whelp, looks like the consensus is to be ethical and pay my share, which is exactly what I'm gonna do. Thanks for the feedback.
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03-12-2016, 12:35 AM	#11
Flying Ace Lieutenant General 5043 Rep 11,896 Posts Drives: G05 45e, 997.1 & 991.1 GT3s Join Date: Jul 2014 Location: SF, CA iTrader: (5)	Pay it. Any other way is tax fraud
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03-12-2016, 01:02 AM	#12
lablake Private 7 Rep 75 Posts Drives: 2011 JZB e92 M3 Join Date: Dec 2010 Location: Portland, OR iTrader: (1)	Move to Oregon. No sales tax and cheap DMV fees :P
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03-12-2016, 11:46 AM	#13
RickFLM4 Brigadier General 11830 Rep 4,872 Posts Drives: M4 Join Date: Jul 2015 Location: PB County, FL iTrader: (0)	Like everyone else, I hate paying taxes and think some taxes are outrageous. However that is a separate issue and does not mean we don't have to pay whatever they are. When someone doesn't pay what they owe, they are effectively fucking over the rest of the taxpayers (in this case in your state). So, I agree with others - gotta pay them. __________________ Current: 2018 SO/SS F83 ZCP Gone: 2015 SO/SO F82
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03-12-2016, 02:18 PM	#14
kprocivic Lieutenant Colonel 814 Rep 1,575 Posts Drives: ecoboost s to the t Join Date: Apr 2014 Location: 92346 iTrader: (7)	All the cars i purchased 5k and below i believe i did 500 for the purchase price. anything over that i list the actual price i paid. I had a buddy who had abought a 350z for 20k he put 1500 for the purchase price, insurance sent him a check for 1500 when it got totaled. __________________ 2.0l ecosmackkaa
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03-14-2016, 06:29 AM	#19
///M Power-Belgium General 70573 Rep 26,624 Posts Drives: ///M3-E92-DCT Silverstone II Join Date: Jul 2012 Location: Belgium iTrader: (0)	Guys... Please...Do not complain , because you are actually in a tax paradise ! In Belgium it's like... First year with the "BIV" (first time in traffic tax with a new owner ) is 10,000 Euro's ! + we need to pay the yearly driver tax that's 2,000 Euro's ! So 10,000 + 2,000 = 12,000 Euro's taxes only for the first year ! The only thing I can say about the US taxes is ... " God bless America " Attached Images __________________ "MAX VERSTAPPEN" IS THE 2021+2022+2023 F1 WORLD CHAMPION - #UnLeashTheLion BPM DEV-Tune & DCT Software-Tune & Servotronic & coding ///Alpine HID Angeleyes ///Oem.exhaust mod.
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03-15-2016, 10:10 PM	#20
Biorin Lieutenant 2785 Rep 421 Posts Drives: to get cheeseburgers Join Date: Oct 2013 Location: Sweatervests & Range Rovers iTrader: (0)	I was really hoping this would be a thread about taxation and tax law
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