I plan to transfer my one truck operation to Texas. Currently I'm incorporated in california. Once I move I will be establishing a new corporation in Texas. Would I need to pay sales tax again on my truck if I transfer it to the new corporation that I setup in Texas. I owe 90k on my truck but my purchase price was 187k. Do I pay sale tax on my remaining balance or the original purchase price?
Would this move affect my depreciation that I am currently claiming at original purchase price? Thanks in advance!
Sales tax due
Discussion in 'Ask An Owner Operator' started by Dera209, Jun 2, 2024.
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Idk , try the chamber of commerce tomorrow where you are moving to .
Dera209 Thanks this. -
No, you don’t pay sales tax again.
5UG, Diesel Dave, Dera209 and 2 others Thank this. -
Okay so I found this..
“Tax Code Section 152.023, Tax on Motor Vehicle Brought Into State by New Texas Resident, imposes a $90 new resident tax on any motor vehicle purchased outside Texas and brought into Texas for use by a new resident.”
Reading that I would assume you will be on the hook for a small fee. But it’s not a sales tax.5UG, Diesel Dave, North Pole Nightmare and 4 others Thank this. -
Are you gonna have to pay tax to leave Commiefornia ?
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I don't know if there doing the exit tax yet. Wich is illegal in my book!!! Though they want to impose a per mile tax on driving at .30 cents a mile!!! At those rates the greaseball best be fixing the roads himself and they best be made of goldmitmaks, Dera209, Deere hunter and 2 others Thank this.
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Should you even be paying sales tax?
I thought California has a rolling stock exemption.Dera209 and Deere hunter Thank this. -
call the texas dmv and see what they say
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i don't think they should have to pay sales tax. since it was already paid to another state. but that is just meDera209 and Deere hunter Thank this.
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one reason not to business in commieforina. the taxes and regs will kill you along with the stupidityDera209 Thanks this.
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