JaiGieEse wrote:
Once a few years ago, my brother gave me a car. GAVE - as in, zero dollars changed hands. But when I went to my then-home county courthouse to get a tag, I was charged sales taxes. When I explained that there was NO sale involved, they shrugged and said I was required to pay the sales tax anyway.
The tax man will get you - one way or the other.
That's because it was not an arms-length transaction, so the tax is based on the market value of the car.
BTW, if you claimed the car was gifted to you, and it was worth more than 15 grand, your brother would also owe gift tax on the car!
Yes, they get you going and coming.