Okay i have this guy who wants to buy my 2000 F150 for 10,500 and he wants me to gift it to him, so he doesnt want to pay the taxes on it, im not going to do it but, are there consequences in doing this, can you get caught, just would like some details.
Okay i have this guy who wants to buy my 2000 F150 for 10,500 and he wants me to gift it to him, so he doesnt want to pay the taxes on it, im not going to do it but, are there consequences in doing this, can you get caught, just would like some details.
Sounds like fraud to me. And since you've got nothing to gain by it, I'd say you're smart to decline. That's an understatement, BTW.
The DOL will set a value on the vehicle if they feel the stated one is not market-correct.
You can still get by with older cars. For example, if you just coughed up $5000 for a original low-mile '86 SVO, you could tell them $1200 and wouldn't have any problems. All they see is the paperwork; the car is nineteen years old, and mileage is moot (exempt at that age).
Back in CT the DMV used to go by bill of sale for vehciles older than 7 years and blue book for newer. I'm surprised they don't do similar here.
BTW -- it only works out for the person avoiding the taxes of course, so if you're not comfortable with lying to the government and risking fines/possible imprisonment, you're not losing anything.
Okay i have this guy who wants to buy my 2000 F150 for 10,500 and he wants me to gift it to him, so he doesnt want to pay the taxes on it, im not going to do it but, are there consequences in doing this, can you get caught, just would like some details.
You can "gift" it to someone still but a single vehicle can only be gifted once. After that, see above. What he is asking is illegal but they have no way to prove that if he pays in cash. Good luck.
You can "gift" it to someone still but a single vehicle can only be gifted once. After that, see above. What he is asking is illegal but they have no way to prove that if he pays in cash. Good luck.
maybe they have no way to PROVE it but it looks awful bad for joe blow one to "gift" joe blow two with his 5 year old truck...it would be different if they could prove some kind of kinship but two strangers...I think it would be possible to get caught...
maybe they have no way to PROVE it but it looks awful bad for joe blow one to "gift" joe blow two with his 5 year old truck...it would be different if they could prove some kind of kinship but two strangers...I think it would be possible to get caught...