Sorry to bump an old thread, but has anyone leased in Georgia and confirmed the TAVT is only on the leased amount and not the full market value of the vehicle? I got burned when trying to do a lease transfer last year (had to pay full taxes on a M235i when there was just 1 year left on the lease).
Yes! I found it out in hard way too. So for a new caw, you are taxed on the leased amount. BUTTT for a used one, you still have to pay for the full price of the vehicle. A loaner vehicle is consider to be a used car (as far as the title wise), and therefore, you have to pay the full price of the vehicle. I’m not too sure about lease transfer. For example, if I have a leased vehicle and paid the TAVT on full amount of the vehicle and want to transfer it to someone else, I don’t know if the new owner will have to pay the full amount of tax again.
So, according to the old (2013) tax law YES you would have to pay for TAVT again on the full price.
For example: I took over the lease and had to pay TAVT on $31,000 book value of the car to register the vehicle (about $2170) the title would be in BMW’s name. Now after 1 year if I decided to buy out the leased vehicle (ie. transfer ownership to my name) according to the 2013 tax law I’d have to pay TAVT on the FULL amount again to transfer the title to my name.