viperprowler1
Viper Owner
Hey Jviper,
As of January 1st, 2001, the luxury tax threshold stays at $38,000 but the tax rate drops to 4%. The future luxury tax rate schedule is as follows:
January 1, 2002 3%
January 1, 2003 tax expires
There is much more detail on how the tax is computed but it is basically the price you pay for a "new" car/truck which exceeds $38,000 multiplied by the tax rate in effect at the time you buy the vehicle. The dealer will have to explain to you how the tax is computed on your specific purchase transaction and it is only paid once on the first sale of a new vehicle.
Information source: <u>The News </u> #1873 dated January 15,2001. A publication of the New York State Automobile Dealers Association.
Sorry I can't tell you any information about California registration fees, etc. I hope this will be of some use to you!
As of January 1st, 2001, the luxury tax threshold stays at $38,000 but the tax rate drops to 4%. The future luxury tax rate schedule is as follows:
January 1, 2002 3%
January 1, 2003 tax expires
There is much more detail on how the tax is computed but it is basically the price you pay for a "new" car/truck which exceeds $38,000 multiplied by the tax rate in effect at the time you buy the vehicle. The dealer will have to explain to you how the tax is computed on your specific purchase transaction and it is only paid once on the first sale of a new vehicle.
Information source: <u>The News </u> #1873 dated January 15,2001. A publication of the New York State Automobile Dealers Association.
Sorry I can't tell you any information about California registration fees, etc. I hope this will be of some use to you!
