| Author |
Message |
arthur chambers (Art355)
Member
Username: Art355
Post Number: 832
Registered: 6-2001
| | Posted on Friday, December 06, 2002 - 12:41 pm: | |
Good deal. That means the new 360s ,etc. will be about 5k cheaper next year.
Art |
martin J weiner,M.D. (Mw360)
Member
Username: Mw360
Post Number: 706
Registered: 5-2001
| | Posted on Friday, December 06, 2002 - 12:15 pm: | |
Yes-all states across the board."Forever?"-------
Forgetaboutit! |
DES (Sickspeed)
Junior Member
Username: Sickspeed
Post Number: 78
Registered: 8-2002
| | Posted on Friday, December 06, 2002 - 12:06 pm: | |
Does this mean that luxury tax on automobiles is being nixed, completely...? In all states...? Across the board, forever...? |
John Delvac (Johndelvac)
Junior Member
Username: Johndelvac
Post Number: 155
Registered: 11-2001
| | Posted on Friday, December 06, 2002 - 11:52 am: | |
One of the FCA Georgia members sent me this message to post:
John,
I just read the following article and I think it would be good to pass this through the club in case others do not know about it.
http://www.marketwatch.com/news/story.asp?guid=%7B1B166D01-AFE8-43D2-8BE6-CD
2DF3C2E877
Here is the entire article:
NEW YORK (CBS.MW) - If you are thinking of buying a new car this year, you might want to wait a couple of months for the luxury tax on automobiles to expire. But if you are considering buying a car for business use, you might want to make that purchase before the new year.
The long dwindling luxury tax on automobiles will be completely phased out on January 1, 2003. Car sellers will then no longer have to pay the tax of three percent of the amount of the sales price that exceeds $40,000. That means that the price of your new car will be reduced by the amount the dealer saves in taxes. So if you can wait a few months to purchase that new Hummer, it may well be worth your while.
But if you are buying a car for business use, you might want to do it now to save on this year�s taxes. You will be able to earn a first-year depreciation deduction, which can save you money not only in federal income and social security taxes but possibly in state taxes as well.
Eric
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