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Thread: Status of sales tax law on trade-ins

  1. #1
    Join Date
    Dec 2011
    Location
    SE Michigan
    Posts
    3,140

    Default Status of sales tax law on trade-ins

    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.

    http://www.taxrates.com/blog/2013/11...e-in-vehicles/
    _________
    Roll away the dew...


  2. #2
    Join Date
    Aug 2008
    Location
    Brownstown, MI
    Posts
    16,620

    Default

    Why scale it?? That seems ridiculous!!
    ^^My $0.02 not yours^^
    -Chris
    aka Gas Man

    "Why pay somebody else to fuck up your bike?"
    "Custom don't bolt on!"

  3. #3
    Join Date
    Dec 2011
    Location
    SE Michigan
    Posts
    3,140

    Default

    Quote Originally Posted by Gas Man View Post
    Why scale it?? That seems ridiculous!!

    To make the reduction in revenue gradual
    _________
    Roll away the dew...


  4. #4
    Join Date
    Dec 2012
    Posts
    966

    Default

    They will just raise taxes other places.

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