Welcome to NESR! Most features of this site require registration, including replying to threads, sending private messages, starting new threads, and uploading files. Click here to register.

Results 1 to 5 of 5

NY sales tax

  1. #1
    Senior Member
    Join Date
    Oct 2007
    Location
    Milton, MA
    Age
    54
    Posts
    747

    NY sales tax


    Selling my bike to a guy from NY, and wonder how the state calculates its sales tax? Is it on the sales price or on a pre-determined value (similar to KBB)?

    0 Not allowed!

  2. #2
    Posting Freak Gecko's Avatar
    Join Date
    Jul 2008
    Posts
    802

    Re: NY sales tax

    If you're the seller, I'm not sure why you would need to know how sales tax is calculated. As is the same as Massachusetts, New York only collects sales tax on the purchase of vehicles. The NY buyer will have to pay state sales tax (of 4%) in addition to county or local tax (of up to 4.5%), if any, when they go to register the vehicle at a DMV office in NY. Or are you concerned about filling out seller's section of the NY form DTF-802, Statement of Transaction - Sale or Gift of Motor Vehicle? In this form you, as the seller, need only certify the purchase price. You don't have to do any of the tax calculations. Its up to the NY powers that be to determine the sales tax the buyer must pay when they register the vehicle. If the form is not filled out by you (the seller), the buyer will be charged sales tax based on the vehicle's current fair market value.

    0 Not allowed!
    Last edited by Gecko; 06-24-19 at 08:29 AM.
    John
    CCS/LRRS Expert #69
    LRRS Rookie of the Year 2004
    "Speed has a kind of affinity for me, it's the time God and I have our little talks."

  3. #3
    Senior Member
    Join Date
    Oct 2007
    Location
    Milton, MA
    Age
    54
    Posts
    747

    Re: NY sales tax

    Because I am curious - that's all.

    0 Not allowed!
    Last edited by Bonk!; 06-24-19 at 08:54 AM.

  4. #4
    Jamnuts jhawley's Avatar
    Join Date
    Oct 2009
    Location
    Southern CT
    Age
    35
    Posts
    719

    Re: NY sales tax

    It varies by county in NY

    0 Not allowed!

  5. #5
    Senior Member capitalcrew's Avatar
    Join Date
    Feb 2017
    Location
    Albany NY
    Posts
    504

    Re: NY sales tax

    The amount varies by county, but there's a flat sales tax for the state as well.

    The new owner will have to fill out a DMV form for sales tax. If he marks that it was sold below market value then you would also need to sign and verify the price. If he marks that it was at market value it just gets your name and address on it and he signs it with the amount he paid.

    I bought a KLR for 125 dollars last year and registered it recently. I marked it as "at market value" and they didn't question it.

    0 Not allowed!

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •