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Federal Excise Tax on Resale of Canadian Trailer

Discussion in 'Trucker Taxes and Truck Financing' started by Reefer Madman, Dec 9, 2011.

  1. Dec 9, 2011 #1
    Reefer Madman

    Reefer Madman Bobtail Member

    22
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    Nov 22, 2011
    Dallas, TX
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    I am looking to buy a reefer. I was contacted by a driver who has one that I would like to buy at a reasonable price. I have found out however that the truck was originally sold by a US manufacture to a dealer in Canada and no US federal excise tax was paid on it. I have been given different answers to the question: Do I have to pay exise tax on the original sale amount when the trailer was exported or on the used sale amount (what I am paying for it)?
     
    Reefer Madman, Dec 9, 2011
    Reefer Madman, Dec 9, 2011
    #1
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  3. Dec 9, 2011 #2
    wichris

    wichris Road Train Member

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    Jan 17, 2011
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    No FET on used. Most likely an import/export tax.
     
    wichris, Dec 9, 2011
    wichris, Dec 9, 2011
    #2
  4. Dec 9, 2011 #3
    fortycalglock

    fortycalglock Road Train Member

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    Are you importing it? First you say reefer, then say truck? I believe you'll have to pay FET on your purchase price if you're importing it.

    ETA: Since it will be the first retail sale in the US, you'll owe FET on the sale price.
     
    fortycalglock, Dec 9, 2011
    fortycalglock, Dec 9, 2011
    #3
    Reefer Madman Thanks this.
  5. Dec 10, 2011 #4
    Reefer Madman

    Reefer Madman Bobtail Member

    22
    7
    Nov 22, 2011
    Dallas, TX
    0
    I should have said trailer, not truck. And I was told by the trailer manufacturer that I would have to pay the tax on the original sale amount.
     
    Reefer Madman, Dec 10, 2011
    Reefer Madman, Dec 10, 2011
    #4
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