Massachusetts sales tax on a project vette
08-18-2011, 12:29 PM
#21
Melting Slicks
As far as an abatement, think about that one before you chase it - you will need solid proof that the vehicle is only worth what you paid - but then you will be hosed when you try to get insurance for the value you feel it's worth!
08-18-2011, 04:36 PM
#23
Le Mans Master
Member Since: Mar 2008
Location: Oxford MA-----You just lost the game!!!!
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Scott
08-18-2011, 10:27 PM
#24
Anyone in Mass dealt with this before? I bought a 73 coupe for $5000. I'm getting it titled and the RMV wants to charge me sales tax on 12K because that's what NADA says it's worth. 5K is very much fair market value for the condition of the car, so I'm finding the additional $500 in sales tax tough to swallow. The woman at the RMV said I can pay it now, then file an abatement. Anyone done this before? What arguments work?
I paid $5500 & the RMV lady was 'nice' to me.
she told me she should have charged me high book of $16K, but charged me low book of $10K for the sales tax since I only paid $5500.
An abatement is for exise, not sales tax, & it's onlt for when you pull a car off the road.
But, since you live in Mass, all of this should really come as no surprise though as it's been this way for about 25 years now, right around the time they did away with no title over 10 yrs old needed as now everything needs a title.
It's for revenue, which we all know.
