VT Lease transfer tax question

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Hello!

I’m consider a lease-takeover. The vehicle is currently in Massachusetts while I live in Vermont. The transfer would be done via Ford financing. I’m trying to determine how the VT state purchase & use tax (6%) would be applied.

  1. I believe the 6% would be applied to the difference between the original acquisition cost and the lease-end residual, but I’m not sure if that would apply exactly in this lease-transfer context. Can anyone explain how the tax would be calculated?

  2. Would this be done by Ford Financing during the transfer process or by me at the DMV after the fact?

Thanks!