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How can I calculate sales tax on used cars?
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Your first step would be to just to find out the applicable sales tax rate. This can be tricky. Not only do you need to be aware of the state sales tax, but the local tax, as well. And, local taxes vary by town, and even school district.
The sales tax on used cars is based on the seller's location, not where you live. If you're unsure about the tax rate governing the seller's area, call the dealer and ask. Or, call the town's city hall; someone there will know.
Once you've learned the sales tax rate, it's simple to calculate the tax. Just bring out your trusty calculator -or use an online calculator - and apply the percentage to the base sales price of the used vehicle.
No matter how you determine the cost, it's a smart to do so before committing to the purchase, especially in high tax rate areas. Depending on your budget restrictions, the sales tax alone could push the car out of your financial range.
The sales tax on used cars is based on the seller's location, not where you live. If you're unsure about the tax rate governing the seller's area, call the dealer and ask. Or, call the town's city hall; someone there will know.
Once you've learned the sales tax rate, it's simple to calculate the tax. Just bring out your trusty calculator -or use an online calculator - and apply the percentage to the base sales price of the used vehicle.
No matter how you determine the cost, it's a smart to do so before committing to the purchase, especially in high tax rate areas. Depending on your budget restrictions, the sales tax alone could push the car out of your financial range.
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