Posted on 09/26/2006 6:30:36 AM PDT by Dubya
Many years ago, father in law gave us a car. The gift tax was higher than if he would have sold it to me.
And Gov Perry.
I wonder where all the monies generated by our property taxes go, or the funds generated by the lottery....Perry and his money-grubbing cohorts need to go.
They've been doing this up here in Massholechusetts for years now. Welcome to the club (sarcasm)!
Guess it's time for another tax revolution.
Always sneaking one more tax in on us.
What really chaps my @ss is the fact that the Republicans have done this while sitting on an eight billion dollar surplus.
It could make some cars cheaper. I would subtract out the tax amount from what I would be willing to pay. Of course some people wouldn't be able to figure that out (public schools provide great educations).
This is simply wrong and should be challenged in court.
Actually think this is more of an overreation by those buying cars for five grand and reporting the sale as five hundred.
first they tax us outta our homes, now they are going after the used cars.... note, this is used cars, i.e. someone wise enought to not buy new or "POOR" folk who can't afford new!!!
it's pure EVIL!!! :)
Welcome to the state of Taxes (note new corrected spelling). Yet anotehr reason not to vote for Gov Goodhair. I will vote for Kinky.
Kinky is for this kind of garbage, too. He's a liberal who talks tough.
That said, maybe we should tax hair gel,face cream, and manicures so Gov. Goodhair will leave the state.
They are ALL losers, this year.
I just recently purchased a vehicle. When you go to the court house you can put whatever you want down as the price you paid......no questions asked.
However, there is a BIG sign there that says if you falsify this amount and you're caught the penalty is something like $1,000.00 and jail!!
Obviously I gave them the right amount.
"A $500 difference in the price of the car would only be $31.25 difference in sales tax," she said. "For most people, that's hardly worth arguing over. Some people will win and some people will lose."
As a kid, a few neighborhood guys and I had got in the habit of swiping an apple apiece from an old man's tree that sat close to a fence on the way to our school.
One day this petty theft came to a halt when he caught us in the act and after threatening to call our parents and the police convinced us without the use of violence that whether the apples were stolen one at a time or all at once, made no difference to the bare tree.
It's easy to get a used car dealer to vouch for ya.
But from the article it looks like Texas is going to get it worse. If I at least show up with a "reasonable" sale price, they won't check. Texas is going after an amount that is close to the retail price if I read the article correctly.
Good luck with this Texas, you may not have PIT, but you sure seem to be getting rolled over the barrel on this one.
SZ
Just wait until you get taxed on the "imputed income" from living in your own house. Some politicians cooked up the idea that the fair rental value of your home is taxable even if you are living in it. They figure you are depriving the state of tax revenue by sitting on an asset that could be generating taxable income. They reason that you are getting a benefit by not have to pay that rent yourself for living in that dwelling (even though you are the owner and landlord). This is, of course, omitting any revenues from property taxes that they also assess.
Since I have a house/ranch in New Mexico, this will be easy.
Needed to become a NM voter, anyway.
And what they are also doing is establishing precedent for if and when Fair Tax comes to pass: by saying they can tax private transactions, they can tax anything twice.
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