Sales Tax Calculation in NY

Ask the Hackrs
1

Hi All,

I have been wracking my brain trying to figure out how to calculate sales tax in NY. Below are the details. The sales tax should be 1275.10. All fees and taxes are capitalized into the lease. The deal is simply 385 for 36 months.

Can someone PLEASE assist in how to derive the sales tax calculation?

MSRP $42929
Selling: $37398
MF .00020
Residual 58%
Rebate: 1,500 (I believe this is taxable as well?)
$385 per month 36m / 10K

Included in payment:
Tax Rate: 8.375%
Sales Tax $1275.10
Bank Fee $700
DMV $275
Doc Fee $75.00
Tire Tax $12.50
Inspection $10.00

2

Greetings John!

Check out my post at…

NY Tax Calculation

You didn’t provide enough info for me to calculate you base lease payment that doesn’t include taxable items.
Questions? Please let me know!
Best,
John

3

I’d think he figured it out, considering it’s been more than a year since he posted.

1 Like
4

Don’t know if he figured it out or not. The topic is still open so, I thought I would address his question is case he revisits the topic.

5

You started spamming with your links in at least 2 threads and brought up a year old dead thread for that purpose. I will start removing duplicate links. One post is enough to show up in a search for NY tax.

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6

How about removing the “year old dead thread” while you’re at it? I was simply trying to help a few people.

7

Wanted to give you a chance to answer a few questions, if someone is interested, since you revived it. But yeah…

1 Like