How do motorcycle trades work in MA?

[schleppy]

It's looking like a motorcycle trade is in my near future, and I was wondering how they work in MA. We will both be swapping our bikes straight up, no cash exchanging hands.

Do we just sign the titles over to each other and then get a new registration (or transfer our current reg/plates to the new bike)? I'm assuming you don't have to pay sales tax if there was no actual "sale" involved.

Thanks all!

[jwm2k3]

You will both pay sales tax on whatever the registry deems book value. The only way to avoid sales tax would be a direct swap with a dealership that has a valid tax id number.

[gus310]

get a gift form from the rmv. with the gift form you wont have to pay the taxes.

[jwm2k3]

get a gift form from the rmv. with the gift form you wont have to pay the taxes.

A gift form only works for family member to family member.

[schleppy]

get a gift form from the rmv. with the gift form you wont have to pay the taxes.

Looks like that only works in family:
http://www.mass.gov/rmv/regs/reg3.htm

[Kenn157]

So what did you swap for Schlep?

[schleppy]

So what did you swap for Schlep?

Undecided. It's between a Z1000 (mikeb) or a 2003 FZ1 (nicely modded, CLEAN). I'll hopefully make my decision soon.

[Kenn157]

Nice! THe DR650 was so not you. Especially in full dress leather suit. Nice to see you on either bike.

[slammp]

pretty sure the gift forms are no longer accepted. everybody I know use to take those in on private sales and say it was a gift from their uncle. I heard they stopped accepting them a few years ago.

[Lxpony]

A gift form only works for family member to family member.

John- we are cousins right??

[Ladydee09]

hey! i work for an insurance company with a drive program which is part of the rmv...if your making an even trade write out bill of sale saying so(for your own records)! as for gift form, there is a difference bewteen family transfer and gift. Gift form is saying you received as a gift and the person gifting it to you signs the form as well as the person accepting the gift it does not have to be family. You will need a sale price in the sale price box in mass unless from a dealer. If you receive as gift you put gift, i recommend being careful on titles as a mistake can be a pain. If you choose not to do the giift form then you will pay sales tax on book value. You pay sales tax on what you paid for it or book vlue whichever is greater unless vehicle is bought from a lisc. mass dealer. Hope this helps! any questions feel free to ask!

[jwm2k3]

John- we are cousins right??

I have a plan that might work for us.......

[Ladydee09]

cousins arent part of the family form! mother father brother sister....but....theres ways

[mikeb]

Undecided. It's between a Z1000 (mikeb) or a 2003 FZ1 (nicely modded, CLEAN). I'll hopefully make my decision soon.

fz1? pfft junk.










joke, had an 01. good bike but doesn't have nearly have the aftermarket mine has! whats up for sunday?

[schleppy]

joke, had an 01. good bike but doesn't have nearly have the aftermarket mine has! whats up for sunday?

Still waiting to hear from one guy who I talked to prior to you. We may meet in Newburyport, then I could ride to you afterwards. I'll let you know.

[schleppy]

My insurance agent sent me a gift form that will work (apparently). We'll see what the RMV says...

[COPAC]

technically there's no money switching hands so there should be no taxes

[Ladydee09]

the gift form will work!!! and i agree if no money is involved no taxes should be! just use the gift form and you'll pay 25 bucks vs sales tax!

[duganc1717]

Gift forms work fine, trust me I know.....