View Full Version : Status of sales tax law on trade-ins

12-17-2014, 08:54 AM
I wasnt aware they passed it last year.

You can now take up to $2K of the trade in value to reduce the purchase price of the new vehicle for the purpose of calculating sales tax when you trade in a bike or car.

Its a start.

It goes up by $500/year starting Jan 1 2015, until it reaches $14K, when it becomes uncapped.

So basically in 24 years you'll be able to deduct the total amount of the trade in for calculating sales tax.


Gas Man
12-17-2014, 08:29 PM
Why scale it?? That seems ridiculous!!

12-17-2014, 11:57 PM
Why scale it?? That seems ridiculous!!

To make the reduction in revenue gradual

12-18-2014, 08:59 AM
They will just raise taxes other places.