Gas Guzzler and Luxury Tax - Gone in 2003
Thread Starter
Almost a Member!
Joined: Mar 2002
Posts: 39
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From: Miami Beach
E320 - 2003
Gas Guzzler and Luxury Tax - Gone in 2003
I just confirmed it.
BOTH the Gas Guzzler tax and Luxury tax are gone effective January 1, 2003.
Even though an automobile may be built in 2002 and delivered to the dealer as late as December 31, 2002...if you wait until January the tax will not be assessed.
For the E500, that means a savings of about $1500!
BOTH the Gas Guzzler tax and Luxury tax are gone effective January 1, 2003.
Even though an automobile may be built in 2002 and delivered to the dealer as late as December 31, 2002...if you wait until January the tax will not be assessed.
For the E500, that means a savings of about $1500!
MBWorld Fanatic!
Joined: May 2002
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From: Hong Kong / Jakarta
CLS350
Serious? THis is great news!!! I am so happy i won't have to pay any useless taxes anymore. I was happy with lux tax disapearing but now Gas Guzzler! 1,500 for the E500 is just for the gas guzzler right? How bout Highline car owners, i think lux tax is about 8K for a new Murcielago.
Super Member
Joined: Aug 2002
Posts: 924
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From: Northern VA
2003 MB E500
That's great for people buying after 1/1/03 but my car will be here in late October so I'll have to pay more than $1,600 in these stupid taxes. I don't have the will power not to take delivery and order again for delivery in 2003. So I gues I'm just stuck paying more taxes to the Feds. They need the money you know!!
Thread Starter
Almost a Member!
Joined: Mar 2002
Posts: 39
Likes: 0
From: Miami Beach
E320 - 2003
For information on the expiration of the Luxury Tax, please look at: http://www.irs.gov/formspubs/display...D80204,00.html
For information on the expiration of the Gaz Guzzlet Tax, please read the last sentence at: http://auto.consumerguide.com/auto/e...cfm?act=window
Now...what to do with all that extra money!
For information on the expiration of the Gaz Guzzlet Tax, please read the last sentence at: http://auto.consumerguide.com/auto/e...cfm?act=window
Now...what to do with all that extra money!
Super Member
Joined: Dec 2001
Posts: 633
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From: NY
14 'E550
Unless I'm losing my mind, I see nothing in the last 2 paragraphs that indicates the gas guzzler tax is going away in Jan.
"Special federal taxes apply to certain cars. A gas-guzzler tax is levied on cars that average less than 22.5 mpg in combined city/highway driving based on the EPA fuel economy estimates. This tax does not apply to light trucks, including SUVs and vans."
"A federal luxury tax applies to all passenger vehicles with a gross vehicle weight of less than 6000 pounds. Pickup trucks and most SUVs are exempt from this tax, which for calendar 2001 is 4 percent of the transaction price over $38,000. The tax is levied on the purchase price before any trade-in value is deducted. Note, however, that this tax is set to expire on December 31, 2002."
"Special federal taxes apply to certain cars. A gas-guzzler tax is levied on cars that average less than 22.5 mpg in combined city/highway driving based on the EPA fuel economy estimates. This tax does not apply to light trucks, including SUVs and vans."
"A federal luxury tax applies to all passenger vehicles with a gross vehicle weight of less than 6000 pounds. Pickup trucks and most SUVs are exempt from this tax, which for calendar 2001 is 4 percent of the transaction price over $38,000. The tax is levied on the purchase price before any trade-in value is deducted. Note, however, that this tax is set to expire on December 31, 2002."
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Super Member
Joined: Aug 2002
Posts: 924
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From: Northern VA
2003 MB E500
I have found nothing on the Internet that says the gas guzzler tax ends this year. In fact the actual law doesn't even mention any kind of end date. I don't hink is going to be phased out. If it was goig to happen, there would be notices all over the place especially with just four months to go before it ends.
