Oh, please. Tell us more.
Posted on 04/02/2024 6:08:27 AM PDT by Tell It Right
So why am I telling this story? Because there is a tax benefit if you have an accident that is a total loss, and you receive an insurance payout for said loss.
It’s called a “sales tax affidavit” and is available by law in all 50 states. There are some variations depending on the state, the model year of the vehicle, damage assessment, etc., but it is still the law of the land.
(Excerpt) Read more at americanthinker.com ...
I hit a deer on the interstate at high speed once...........
Not like our overlords telling us at the motor vehicles orifices about this.
What if your State has no sales tax?
Do they have a car sales tax?
In many states, the rules and rates for car sales tax differ from general sales tax.
I hit a deer on the interstate at high speed once...........
~~~
A moose once bit my sister
Oh, deer. I hope you didn't have to spend a lot of doe on it. Or did you insurance shell out the bucks?
It was a doe, but I was insured. The car was practically new, a Pinto. I was stuck in Kansas City for ten days in between bases while it was repaired. Demolished the whole front end............................
I hope the moose is okay...................
Wow, I wish we knew about this long ago. Over a period of about 3 years, my son had three pickup trucks totaled. None were remotely his fault. In one, he drove over a patch of ice on a dirt road that turned out to be a 4 foot deep sinkhole. (This happened ten minutes after he lost his job due to his employer going bankrupt) The next was in a parking lot and got destroyed by a drunk driver. (he’s a trucker and was several hundred miles away at the time)
The last one was a cheap beater. It caught fire two weeks after he bought it. He got some great video of a full magazine of 9mm cooking off.
As a trucker, he had a major crash, again not his fault and not his truck. He swerved and rolled the truck to avoid a school bus that pulled into his path.
Thank God the deer didn’t hit the back end of that pinto! 💥
Yes. She was karving her initials øn the møøse with the sharpened end of an interspace toothbrush given her by Svenge, so Red Badger is right to ask if the møøse is okay.
My Prius went to car heaven last year. Taxes not done yet. PFL.
I assume it is not just if you hit a deer. I did not get a new car yet. I am driving my 2009 Tacoma that only has 70K on it. I am wondering if this can be carried over.
Oh, please. Tell us more.
It was my first car, bought brand new for $2400!.........................
I’m surprised the writer’s insurance didn’t pull the black box and check the speed at the time of the accident. 70mph on a county road (most likely 50mph) could be grounds to deny the claim.
It’s a good thing the Ford didn’t put the gas tanks in the front!
I was very interested in this because I just had a total loss insurance claim on my daughter’s car and bought her a replacement.
In Texas, the insured CANNOT avoid paying sales tax on the replacement using the settlement money insurance paid for an insured total vehicle loss by using a sales tax affidavit as the article claims (“in all 50 states”).
What IS exempt is the transfer of the totalled vehicle from the insured to the insurance company in exchange for payment of the claim. That is not deemed a sale.
reference: https://comptroller.texas.gov/taxes/publications/96-254/insurance-settlement-transfers.php
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