sales tax on lease assumption? - MBWorld.org Forums

Dec 11, 2006 | 02:01 PM

Midcont

Thread Starter

Member

Joined: Nov 2005

Posts: 77

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From: NJ

E63

sales tax on lease assumption?

I'm inexperienced with leasing and had a question about taking over somebody's lease partially through.

I'm in NJ...How is tax handled for an in-state vs. and out of state car that would be brought here?

Is there an upfront payment or just a potentially recalculated number plugged into the monthly price?

Any help is appreciated.

Dec 27, 2006 | 06:04 PM

mattmcg

Newbie

Joined: Oct 2006

Posts: 7

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Jeep

I found some interesting information that may help you determine your tax situation for an assumed lease. It is a guide that covers lease taxation policies under different circumstances.

http://www.dataconsultants.com/images/njcar.pdf

I hope that helps!

Matt
LeaseTrade.com support
http://www.leasetrade.com

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