Buying tractor out of state (sales tax?)

[Roto]

I just may buy my NH in NH hehe.

Mike

NH rules

 

[caver]

In Missouri it is called a use tax and you file a form when you pay your taxes after the end of the year. I don't live at my property so didn't feel I could pull off an ag exemption. It took a call to the state office and even then the guy quoted the wrong form number. Local government offices were of no help at all other than they told me I was ok for this year on personal property taxes. That doesn't bother me as the rate is cheaper where I'm going to use the tractor.
My thoughts: With everything on computers now it is much easier for data to be passed around. Something to think about.

DAMHIK
In Missouri the auto insurance companies have to report when someone doesn't renew that insurance. Like the other poster mentioned about government being slow. Well don't be surprised to get a letter from the state six months later asking why you do not have insurance on that vehicle. The letter starts out, "this is a random audit". I think it is more like a computer program throws up a red flag when certain numbers do not jive. Once again, DAMHIK.

 

[MessickFarmEqu]

In Missouri it is called a use tax and you file a form when you pay your taxes after the end of the year. I don't live at my property so didn't feel I could pull off an ag exemption. It took a call to the state office and even then the guy quoted the wrong form number. Local government offices were of no help at all other than they told me I was ok for this year on personal property taxes. That doesn't bother me as the rate is cheaper where I'm going to use the tractor.
My thoughts: With everything on computers now it is much easier for data to be passed around. Something to think about.

DAMHIK
In Missouri the auto insurance companies have to report when someone doesn't renew that insurance. Like the other poster mentioned about government being slow. Well don't be surprised to get a letter from the state six months later asking why you do not have insurance on that vehicle. The letter starts out, "this is a random audit". I think it is more like a computer program throws up a red flag when certain numbers do not jive. Once again, DAMHIK.

Unrelated, but I just read an article about how they suspect that E-filing your taxes raises your changes of being audited exactly because of this... there can be more automated checking of the data, and your info sits in the computer longer than if its send in on paper.

 

[Roto]

Whats the law if I lived in tax free New Hampshire and bought a tractor from North Carolina and financed through new Holland and then a few weeks later i moved to Maine. I cant imagine you have to back pay anything because of a move. Im thinking of moving to New Hampshire and if i dont like it i may move back to Maine. Any thoughts?

Mike

 

[MadReferee]

Whats the law if I lived in tax free New Hampshire and bought a tractor from North Carolina and financed through new Holland and then a few weeks later i moved to Maine. I cant imagine you have to back pay anything because of a move. Im thinking of moving to New Hampshire and if i dont like it i may move back to Maine. Any thoughts?

Mike

Since you would be a resident of New Hampshire you have no tax obligation on the purchase. If you decide to move your residence to Maine after purchasing then that would be something you would have to take up with the Maine tax people. The bottom line is that it will depend on what Maine wants to do, if anything. If they feel you moved to NH just to avoid tax then moved back to Maine then you might have problems. Your only correct answer will come from a good Maine tax accountant or the state itself.

Anything else would be "use at your own risk" information.

 

[Roto]

They would have to prove i moved to save sales tax and hard to prove. I have relatives there and think i will move there. Hopefully i will like it but if i dont i will move back to maine.

Mike

 

[thcri]

Was going to put this in it's own thread and may yet but thought it might be it's place here. Today I got a letter from the Company that bought out my dealer. They are going through a full blown tax audit. They wanted a copy of my tax exempt number??? Yeah like I have one . My tractor or purchases from them have nothing to do with agricultural. I thought maybe I should just look at some of my purchases for supply's that I bought. Half the time they charged me sales tax and half the time they didn't. So I did a little deeper digging and found on my trade up they charged me sales tax but I can not find all of the documents on my first purchase nor that I paid sales tax on the first purchase. I could be liable I am sure if I did not pay the sales tax on my TC21D. My paper work shows no sales tax but the amount I financed is a considerable amount more.

Now in this case if you did buy out of state and take your tractor home I am sure the neighboring state during the audit would cross connect. And thus you would end up paying.

So right now I am praying that I did pay the first time around or it could be a tad bit costly to pay on 15K

murph

 

[Roto]

Thats a bummer but maybe you paid the Sales tax and just doesnt show on paperwork. Hopefully anyway!
North Carolina is several states away so may not be as noticable if i buy there.

Mike

 

[AndyMA]

My paper work shows no sales tax but the amount I financed is a considerable amount more.


murph

Murph If you're paperwork is like my loan the amount financed included the purchase price, sales tax if charged,insurance charge and the finance charge. The finance charge might make the number appear quite a lot larger.

andy

 

[thcri]

Murph If you're paperwork is like my loan the amount financed included the purchase price, sales tax if charged,insurance charge and the finance charge. The finance charge might make the number appear quite a lot larger.

andy

I had an interest free loan, other than filing fees or what they can come up with it almost has to be the sales tax. At least I am hoping. The amount is over $900 of my purchase price.