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Has anyone here transferred a car registration as a gift (non-family) before? If you have is there still a tax based off of the "current market value" that you fill in on form reg 256?
Yes. They will be taxed the current value of the car.
But if you sell it to them for (eh, let's throw out a number) a thousand dollars, then they only have to pay about $85 in taxes...
Thanks! Wasn't sure if the "gift" thing meant no tax or not. I'll just sell it to my friend for cheap. And with our great economy and taxes, tax is $97.50 for every $1000
Thanks! Wasn't sure if the "gift" thing meant no tax or not. I'll just sell it to my friend for cheap. And with our great economy and taxes, tax is $97.50 for every $1000
no, if you state in the title that it's transferred as a gift, there is no tax. we did that before transferring our car to our cousin and he paid no tax.
now whether dmv believes or not that's another story. if they don't believe your story, they can override it and make you pay the tax based on market price
and what you just discussed in post #3 is illegal, that's considered fraud
And with our great economy and taxes, tax is $97.50 for every $1000 
10-08-09, 06:33 PM
