Toggle navigation
Toggle navigation
Home
DCUM Forums
Nanny Forums
Events
About DCUM
Advertising
Search
Recent Topics
Hottest Topics
FAQs and Guidelines
Privacy Policy
Your current identity is: Anonymous
Login
Preview
Subject:
Forum Index
»
Cars and Transportation
Reply to "Advice needed Re Titling/Insurance for DC gift car (MD and NC)"
Subject:
Emoticons
More smilies
Text Color:
Default
Dark Red
Red
Orange
Brown
Yellow
Green
Olive
Cyan
Blue
Dark Blue
Violet
White
Black
Font:
Very Small
Small
Normal
Big
Giant
Close Marks
[quote=Anonymous][quote=Anonymous]Just avoid the mistake I made many years ago. Parents bought a car my senior year in college. Kept it in their name for cheaper insurance. When I graduated I went to get a title where I was living. New state saw it as I was buying the car and needed to pay tax on it. The car was only1 year old so the bill was high. I should have changed the title in my parents state (still had old license as a student) and then moved it to new state.[/quote] Most states do not regard a transfer between immediate family members as a sale. It would be rare to have to pay tax on such a transaction. As for titling it in one state and then subsequently retitling it in another state, that IS a taxable transaction in many jurisdictions. The amount is based on the value of the car.[/quote]
Options
Disable HTML in this message
Disable BB Code in this message
Disable smilies in this message
Review message
Search
Recent Topics
Hottest Topics
