Taxes on Used Tractors

[KeithInSpace]

Not in Virginia. I think it differs state to state, though. No title, no assessment, no tax.

 

[DmansPadge]

Your right about the trailor but are tractors titled? If so the you would be required to pay taxes when the transfer is made.

Thanks for all the help guys.

You won't have to pay tax on the tractor since they are not titled.

 

[digicamnut]

Thanks a bunch...

 

[LBrown59]

Just curious: How do you get tags on a trailer without a Title? In VA that is where the sales tax is applied (when the title is transferred), but if memory serves, the value has to be over $1,000 or something before Big Brother bothers with picking your pocket.

I don't know.
Maybe there's not title or taxes on trailers under a certain value.

 

[digicamnut]

There is in Texas.

 

[LBrown59]

There is in Texas.

Does the owner of the trailer have a free and clear title to the trailer?
Have you seen the title?
What Value is listed on the title for the trailer ?
What year was that value established?
How much of the 12000 price is going toward the tractor and other stuff?
How much is left for the trailer?
How much do you want to pay for the trailer?
What do you want to pay for the tractor and other stuff?

 

[KeithInSpace]

Maybe there's no title or taxes on trailers under a certain value.

If you need a licence plate, you need a Vehicle Title proving you own the thing that needs a licence plate. Them's the rules in Virginia.

There is even a form for you to request a VIN for a home-made trailer (or a kit car for that matter)...you engrave (or permenantly affix) the VIN to the trailer and they visually inspect it before they give you a title.

For a trailer (in Virginia) the fees are calculated based on gross weight (0-1,500#, 1,501-4,000#, etc.). In addition to the DMV fee, there is a 3% "sales and use tax" with a minimum associated charge of $35. That works out to $1,166.66 before it COSTS you additional money as the value of the vehicle (or trailer) increases. That is where my earlier "$1,000" statement came from...I knew there was something along those lines.

What Value is listed on the title for the trailer ?
What year was that value established?

The taxed value is based on the sale price of the trailer itself at the time it was sold to you...it just has to be a reasonable number. When I bought my last boat, it came with a trailer. Though I bought the BOAT AND TRAILER for $12,000, the title for the boat reflected $10,500 and the title for the trailer reflected $1,500. In these combo deals, it is up to you to make up the value. I'd probably pick $1,165!!!

 

[Buster57]

You guys need to come up here in Oregon to buy your Kubota equipment.

No sales tax!

 

[wushaw]

There is not a title on a trailer like motor vehicle has, it just has the registration just like a motor vehicle and to get that registration changed into your name you need a bill of sale from individual.

Sales tax come in when you go to get it registered in your name.

 

[LBrown59]

There is no title on a trailer like A motor vehicle has, it just has the registration just like a motor vehicle and to get that registration changed into your name you need a bill of sale from the individual.

.

I bought a homemade 6 x 8 utility trailer from a private party back in 1995.
I just handed the guy 350 dollars and hooked the trailer up to my pick up and brought it home.
There was no bill of sale title or registration to change into my name.
What now?