Comments on: How to Sell, Gift, Transfer Vehicles in NY https://www.myimprov.com/how-to-sell-gift-transfer-vehicles-in-ny/ Defensive Driving Fri, 16 Jun 2023 05:45:30 +0000 hourly 1 https://wordpress.org/?v=6.4.2 By: Deborah Lockhart https://www.myimprov.com/how-to-sell-gift-transfer-vehicles-in-ny/#comment-426054 Thu, 20 Sep 2018 17:40:46 +0000 https://www.myimprov.com/?p=35587#comment-426054 In reply to Nathan.

Hi Nathan,
Currently, New York collects a 4% state sales tax rate on the purchase of all vehicles. There are also a county or local taxes of up to 4.5%. The maximum tax that can be charged is 725 dollars. You can always discuss this with your accountant to see if there is a way to save when paying your yearly taxes.
We suggest going over the pros and cons of gifting your car and talking with friends, relatives and accountants to help you decide which option is best for you.
-Deborah

]]> By: Nathan https://www.myimprov.com/how-to-sell-gift-transfer-vehicles-in-ny/#comment-425930 Tue, 18 Sep 2018 14:42:35 +0000 https://www.myimprov.com/?p=35587#comment-425930 What are the law regarding paying tax, when selling of giving a car? How do I know which option is best for me?

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