TAXES!! NY/NJ

[aman27]

Hey Guys,

I am getting an 2003 22,500 miles 6mt coupe with Nav, and tire package for $25,310 based on NJ taxes @ 6%

The problem is do have to pay NY tax of 8.625% or the difference (8%-6%) when i register the vehicle in NY? The deal is a lease buy-out so i am paying the leasing company and they have to charge taxes. They too seem to be confused as to what is exactly the right approach. HELP!!!

[ITR0952]

Originally Posted by aman27

Hey Guys,

I am getting an 2003 22,500 miles 6mt coupe with Nav, and tire package for $25,310 based on NJ taxes @ 6%

The problem is do have to pay NY tax of 8.625% or the difference (8%-6%) when i register the vehicle in NY? The deal is a lease buy-out so i am paying the leasing company and they have to charge taxes. They too seem to be confused as to what is exactly the right approach. HELP!!!

If you live and register the car in NY, you must pay NY taxes, it's few hundred dollars different, I wouldn't even try to take any shortcuts. unless you wanna get audited later on.

I saw a car for $25000 with 19k miles in NJ on sale too. but no Navi, so I ended up buying a brand 2005 one in NY for $33,500