Confused with my sales tax

[Melny67]

Confused with my sales tax this is what I am getting out of Google search.

New York collects a 4% state sales tax rate on the purchase of all vehicles. There are also a county or local taxes of up to 4.5%. The maximum tax that can be charged is 725 dollars. In addition to taxes, car purchases in New York may be subject to other fees like registration, title, and plate fees.

What will I pay on let's say a $40k car? If Max is $720 can't be

Sponsored

 

[Chipe]

Confused with my sales tax this is what I am getting out of Google search.

New York collects a 4% state sales tax rate on the purchase of all vehicles. There are also a county or local taxes of up to 4.5%. The maximum tax that can be charged is 725 dollars. In addition to taxes, car purchases in New York may be subject to other fees like registration, title, and plate fees.

What will I pay on let's say a $40k car? If Max is $720 can't be

When I lived in NY, I paid the going rate of the sales tax, which at the time was 7.5% . So, where you live you will pay what the going sales tax is, just like if it was a pair of shoes, or a radio, or anything else. At least that's the it was.

 

[Melny67]

When I lived in NY, I paid the going rate of the sales tax, which at the time was 7.5% . So, where you live you will pay what the going sales tax is, just like if it was a pair of shoes, or a radio, or anything else. At least that's the it was.

Yeah it's just confusing to me how it has a cap at $725 unless it's state $725 cap and county $725 cap and so on.

 

[JSFoster75]

Confused with my sales tax this is what I am getting out of Google search.

New York collects a 4% state sales tax rate on the purchase of all vehicles. There are also a county or local taxes of up to 4.5%. The maximum tax that can be charged is 725 dollars. In addition to taxes, car purchases in New York may be subject to other fees like registration, title, and plate fees.

What will I pay on let's say a $40k car? If Max is $720 can't be

try this link to calculate taxes

https://process.dmv.ny.gov/regfeecalc/?_ga=2.235753537.1316494349.1571221713-1005800367.1571221713

 

[Melny67]

try this link to calculate taxes

https://process.dmv.ny.gov/regfeecalc/?_ga=2.235753537.1316494349.1571221713-1005800367.1571221713

Yeah that only shows the DMV fees about $231 not the sales tax.

 

[wranglerguyman]

I'm not sure where you're getting your information, but it's completely wrong. Sales tax in your case (NYC) is 8.875%.

 

[mikegcny]

I'm not sure where you're getting your information, but it's completely wrong. Sales tax in your case (NYC) is 8.875%.

Yes, 8.875 and there is no maximum limit on the amount of tax you will pay.

Only break you get in NY is that if you trade a vehicle, you do not pay tax on the trade in, as you do in some states. That's why if you are trading in a car, try to maximize the trade in.

 

[Thill444]

Ask a dealer in your area. They should be able to give you a full quote including all fees and taxes.

 

[Strommen95]

8.875%

Sponsored