Right from the Ben Dover auto group!
That is because they don't read freerepublica, I posted it here that it would be considered taxable income. In a country that taxes SSI, nothing else is possible.
Yet another “hopey”, “changey” dissapointment. EVERYTHING the fool in the WH touches turns to lead. Let’s wait and see how the $8,000 tax credit/rebate for 1st time home buyers comes back to bite people in the arse.
Well, good. The taxpayers will recover a little bit back from their handout to those who milked us taxpayers.
Cars are simply not an investment. I've always bought mediocre-looking used vehicles. Who cares? They're getting my ass from point A to point B.
I’m not a supports of the program but according to it’s website, the gov’t payment is not taxable as income. However it may be subject to local or state sales tax.
http://www.cars.gov/faq#category-06
“Is the credit subject to being taxed as income to the consumers that participate in the program?
NO. The CARS Act expressly provides that the credit is not income for the consumer.”
“Do I have to pay State or local sales tax on the amount of the CARS program credit?
MAYBE. The question of whether a consumer must pay State or local sales tax on the amount of the CARS program credit depends on the sales tax law of each State or locality. Consumers should review the law of their respective States or consult a tax advisor to answer this question.”
“When you buy a new car you pay tax on the difference between the new car’s purchase price and the trade-in you present to the dealer.”
I don’t believe this is true. In Indiana, you pay the tax on the full new car price. You do not deduct the difference in the trade in price. Additionally, you also pay sales tax on the price of a used car.
Not to defend the dealers, but they don’t “pocket” the sales tax. They are required to forward every penny of it to the state...in CA, The State Board of Equalization. If you sell a vehicle privately, the seller pays the tax when he registers the vehicle.
also, if the DEALERSHIP doesn’t file the paperwork withing 30 days, you will be charged further interest and fees on that money.
WOW. this was NOT such a good deal.
Succors are born ever minute. There are no effective abortion clinics for them. Politicians count on it!
No kidding. That's why I've never bit on the rebates.
If I'm shopping for a car, I always ask them for their best out-the-door price, tax, license fees, prep, the works. And if they try to weasel out of telling me or try to steer me into a lease, I walk away. And a lot of times, they will call you a week later and offer you the price you demanded in the first place.
There are no words left to express the contempt that I feel for those losers in our government.
Really, why do we expect a set of people - few of which who have encountered any college courses considered difficult - to make decisions affecting our economy, our climate, our processes for decision making, etc?
There is a reason people go into politics.
They can do nothing productive, but still need to feel important.
Government takes nothing up the butt, just us. Enough said. Wake up America!!!!!
Why does anyone expect anything of benefit to come from the government?
I was a Buick dealer for many years. Although I realize that pointing out facts to the ignorant is a colossal waste of time, I’ll give it a try. First of all, dealers do not “pocket” any sales tax. They collect it and turn it over to the state. Period. Nor do dealers “gloat” over taxes owed or paid by car buyers. Only someone as vapid as you, could possibly think of a reason as to why they should WANT to! Taxes are “profit for the state”, not for the dealer. I have no idea what you do for a living—if ANYTHING—but as a rule, anti-free enterprise zealots such as yourself are certainly not involved in anything resembling capitalism. It’s likely you are either an attorney or a state employee (on the off-chance that you do have a job.) And here you are, on a conservative site doing the standard work of the left—creating animosity for those in business. Successful dealers pay more in taxes in a year than you will in your lifetime. So naturally they must be criticized, demonized for that success. And by the way, the vast majority of dealers have yet to be PAID by Hussein and his thugocracy, a fact which I’m sure will delight you no end. Should you ever seek gainful employment please remember that only PROFITABLE businesses will be able to hire you. Naturally that will all change when your hero finally owns/runs everything, at which point you can contact Obama directly and join the SEIU.