Purchase with portion of Tax Credit from Dealer?

[rent]

I'm in SC, sales tax capped at $500

Are you sure?

A quick internet search (lol!) shows SC vehicle tax rate is 5%. If trade-in is involved, the trade-in value can be deducted from new vehicle price before figuring sales tax.

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[bnels2348]

I'm in SC, sales tax capped at $500

I'm pretty jealous of that! I'm capped at what the gov't wants to charge!

 

[ajkitebrder40]

Are you sure?

A quick internet search (lol!) shows SC vehicle tax rate is 5%. If trade-in is involved, the trade-in value can be deducted from new vehicle price before figuring sales tax.

Yeah, that's the annual tax rate, pay that regardless, so they get their money either way, sales tax is capped. Positive.

 

[FloridaLarry]

Yeah, that's the annual tax rate, pay that regardless, so they get their money either way, sales tax is capped. Positive.

Capped, yes....but also pay capital tax annually, correct?

 

[rent]

Capped, yes....but also pay capital tax annually, correct?

I'm truly curious. Could someone explain this $500 vehicle sales tax cap in SC to me?

My casual googling did not find any mention of this. And it seems crazy to me a state would forfeit such a fat piece of tax revenue.

 

[FloridaLarry]

I'm truly curious. Could someone explain this $500 vehicle sales tax cap in SC to me?

My casual googling did not find any mention of this. And it seems crazy to me a state would forfeit such a fat piece of tax revenue.

Sure , it's all here:

South Carolina Sales Tax on Cars: Everything You Need to Know (caranddriver.com)

 

[rent]

Sure , it's all here:

South Carolina Sales Tax on Cars: Everything You Need to Know (caranddriver.com)

Mind. Is. Blown. Wow.

 

[ajkitebrder40]

Capped, yes....but also pay capital tax annually, correct?

Property tax, yes. So..FL you pay upfront, I think my buddy''s JL was like $2600, we pay $500 sales tax, then usually $400 - $600 the first few years of ownership before it falls off. My '07 JK was $18 last year.

 

[ajkitebrder40]

Mind. Is. Blown. Wow.

Google better guys - Max Tax (sc.gov)

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