Tax Man Cometh, Why you car is worth 13K even if it is a rusty hulk Options

[ctc911ctc]

Happy Teener Day,

Bought a 'garage find' oct 18 for 3K, worked on it in the garage until this month, then I went and registered it in Massachusetts (Tax-a-chusetts).

Was told that it would be valued from the NADA retail book, for a '74 2.0 this is $13,150. Tax: 821.88.

But it gets better.......

Since I bought it 8 months previous, I have to pay a penalty for not registering it when I bought it. This comes to $294.12.

But it gets better........

When I politely inquired if I could appeal this assessment, I was told YES, here is the process.

https://www.mass.gov/files/documents/2018/1...sc-form-abt.pdf

If you look at page 3, in essence they saw me coming and had me all figured out.

So, if you have an old Porsche in MA and have not registered it in a while, move it to a friends house in NH or RI, register it there and then transfer.

[mepstein]

The three motorcycles I purchased were either missing paperwork or incomplete so I registered all three in VT. There was no nada value listed for them so they took my "purchase" price of $500 each for the 6% sales tax. The antique registration was $29 each and no inspection was required. There are no late registration fees. It couldn't have been easier dealing with VT. A woman from the office called me about engine size and was very nice on the phone. That in it's self is shocking compared to all the DMV's in our tri state area. You do not have to be a resident of VT to register in the state and the registration is then transferable to the state you reside. Luckily, there is no yearly tax in either VT or PA.

I have a 914 chassis without paperwork that I will probably register in VT but for that one, I do have to use the nada value of $12,400.

When I buy cars for the shop or myself, I do ask the seller to sign their name and leave the rest blank. It negates a lot of possible issues. Most sellers have no issues with that request.

[Unobtanium-inc]

The three motorcycles I purchased were either missing paperwork or incomplete so I registered all three in VT. There was no nada value listed for them so they took my "purchase" price of $500 each for the 6% sales tax. The antique registration was $29 each and no inspection was required. There are no late registration fees. It couldn't have been easier dealing with VT. A woman from the office called me about engine size and was very nice on the phone. That in it's self is shocking compared to all the DMV's in our tri state area. You do not have to be a resident of VT to register in the state and the registration is then transferable to the state you reside. Luckily, there is no yearly tax in either VT or PA.

I have a 914 chassis without paperwork that I will probably register in VT but for that one, I do have to use the nada value of $12,400.

When I buy cars for the shop or myself, I do ask the seller to sign their name and leave the rest blank. It negates a lot of possible issues. Most sellers have no issues with that request.

VT only works if it is a car that does not have much value. Everyone kept telling me to do VT, so I had a project 356. I sent in the paperwork, they said it would be about $8000 to register it based on the NADA value of a C Coupe. I said it was a project car and they said that's ok, just bring it to a VT inspection station and they can give it a new valuation. the closest one was 3.5 hours away, so 7 hours trailering a car, for a valuation that might not lower the value that much, was not ideal. Now that 914's are going up in value VT might backfire.

[mepstein]

The three motorcycles I purchased were either missing paperwork or incomplete so I registered all three in VT. There was no nada value listed for them so they took my "purchase" price of $500 each for the 6% sales tax. The antique registration was $29 each and no inspection was required. There are no late registration fees. It couldn't have been easier dealing with VT. A woman from the office called me about engine size and was very nice on the phone. That in it's self is shocking compared to all the DMV's in our tri state area. You do not have to be a resident of VT to register in the state and the registration is then transferable to the state you reside. Luckily, there is no yearly tax in either VT or PA.

I have a 914 chassis without paperwork that I will probably register in VT but for that one, I do have to use the nada value of $12,400.

When I buy cars for the shop or myself, I do ask the seller to sign their name and leave the rest blank. It negates a lot of possible issues. Most sellers have no issues with that request.

VT only works if it is a car that does not have much value. Everyone kept telling me to do VT, so I had a project 356. I sent in the paperwork, they said it would be about $8000 to register it based on the NADA value of a C Coupe. I said it was a project car and they said that's ok, just bring it to a VT inspection station and they can give it a new valuation. the closest one was 3.5 hours away, so 7 hours trailering a car, for a valuation that might not lower the value that much, was not ideal. Now that 914's are going up in value VT might backfire.

(IMG:style_emoticons/default/agree.gif) The low nada value on a 914 is still around 12K but if you don't have a title for your C Coupe, $8K might still be a reasonable price to pay to get it back in the system legally and have the paperwork you need to register or sell it. In PA, I was going to have to jump through a bunch of hoops and even go in front of a judge to get the title work started.