Quote:
Originally Posted by Comrando
Every state is different but here, in Illinois, we pay on the difference between the trade and the new car.
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You guys are lucky. They ding us for the full purchase price in Michigan.
8-2.1 Definition of Purchase Price. Purchase price includes the full amount paid to the dealer without any deduction for a trade-in. Tax is due on the full purchase price. If there is a lease penalty for early termination rolled into the purchase price of the vehicle that charge is also subject to tax.