Trade Ins & Sales Tax
05-24-2006 | 06:18 PM
#1
Thread Starter
Newbie
Joined: Nov 2005
Posts: 21
Likes: 0
From: San Diego, CA
2006 E55
Trade Ins & Sales Tax
If I am buying a $50,000 car in CA and getting a $25,000 credit for a trade in that I own free and clear (and paid the sales tax on), do I pay sales tax on the remaining balance of $25,000 or do I have to pay sales tax on the full $50,000. Thanks for your help!
05-24-2006 | 11:19 PM
#2
Former Vendor of MBWorld
Joined: Jan 2005
Posts: 583
Likes: 0
From: Cincinnati, OH
You should only have to pay sales tax on the $25k.
-Tarry
-Tarry
Originally Posted by aztecsd
If I am buying a $50,000 car in CA and getting a $25,000 credit for a trade in that I own free and clear (and paid the sales tax on), do I pay sales tax on the remaining balance of $25,000 or do I have to pay sales tax on the full $50,000. Thanks for your help!
