If I was to take over a swapalease from NY state, which has had the full tax paid upfront on a lease, would I still be penalized or required to pay taxes in Texas, since it’s already been fully paid?
Pretty sure you pay it again since it transfers ownership.
To be clear I’m talking about the lease itself and not the transfer fee which is a few hundred, so no credit is given to the taxes which were paid? Anyone else can chime in here?
Yeah.
I have a Lexus which I wanted to give up on swapalease. Buyer thought same thing thinking he doesn’t need to pay tax on the car but he has to cause every ownership will tact on tax. Sure others will chime in but that is my experience.
Got it, so same from NY to TX?
Whatever your tax rate is in TX is what you get charged. I do think if seller paid taxes up front, they should get reimbursed from NY for the difference in months. Make sure with them.
I am getting back $3200 in taxes from VA because I changed states from VA to NC but still charged me. I told Lexus to take care of it cause it isn’t my car. I shouldn’t be held liable for it.
You will may tax again if you bring into Texas. Check the comptroller handbook.