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04-14-2011, 12:04 PM
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#1 |
 Drives: Shopping for one Join Date: Apr 2011
Location: Toronto, ON
Posts: 3
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Can I somehow get the tax back?
Hi everyone, I'm new here!
I'm looking into buying a new Camaro in the states and importing, I've searched the forum and gathered lots of info from you guys (thanks!) and have decided that my best course of action is to have my brother (a US resident) buy the car, and then immediately sell it to me since he can buy any car brand new off the lot. The only problem with this route is that he has to pay state tax on the car, and then when he sells it to ME, I'd have to give him the price of the car + tax for it. Does anyone know of a law/loophole/whatever whereby transferring it to me as a gift also transfers the tax, so that I can claim it at the border and get a refund? |
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04-14-2011, 12:49 PM
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#2 |
   
Drives: 2014 2LT Red Rock Metallic Join Date: Jul 2010
Location: Ottawa, Ontario
Posts: 1,082
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You'll still save thousands even if you pay taxes on it on both sides of the border.
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04-14-2011, 12:52 PM
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#3 |
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Drives: Shopping for one Join Date: Apr 2011
Location: Toronto, ON
Posts: 3
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Yes and no, depends on what kind of deal he can get at the dealership I guess, right now the savings if I have to pay both US and CAD sales tax is around $3000, because the dealership here gave me a decent discount. I'm not really sure if that's worth the hassle... if I could get the state tax back however it becomes more like $7000 and that's DEFINITELY worth the hassle.
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04-14-2011, 01:00 PM
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#4 |
  
Drives: 2011 Camaro SS/RS LS3 Join Date: Aug 2010
Location: Texas
Posts: 1,630
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have him buy it from a state he doesn't live in
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Yeah, I'll get around to it...
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04-14-2011, 01:27 PM
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#5 |
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Drives: Shopping for one Join Date: Apr 2011
Location: Toronto, ON
Posts: 3
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Doesn't he then have to get the other state tax refunded, and pay the equivalent in his own state?
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04-14-2011, 01:35 PM
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#6 |
      
Drives: 2017 Mosaic Bk ZL1 M6 Join Date: Jul 2009
Location: South of Raleigh, NC
Posts: 9,477
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Probably, try New Hampshire. I think there is no sales tax there, unless there is one for cars. S. Carolina has a cap of $300 but I think that is soon to be changed, if not already. Don't even think about NY (8%)
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