No 6.5% Sales tax on Collector car in MN? | FerrariChat

No 6.5% Sales tax on Collector car in MN?

Discussion in 'North Midwest - USA (ND, SD, MN, IA, WI, IL)' started by Meister, Mar 16, 2014.

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  1. Meister

    Meister F1 Veteran
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    #1 Meister, Mar 16, 2014
    So I'm going to hot foot it down to the MN DMV tomorrow, but wondered if anyone has real world experience with this.

    I know that 20 years and older cars may be registered as collector/classic at the flate rate registration.

    But I just read that if you purchase and apply for collector status intially there is no 6.5 %sales tax???

    Example, If I buy a 1994 (or older) 348, next month and apply to title it as a collector I wouldn't pay the 6.5%? Only the one time collector car plate fee?

    Can't be true....
     
  2. 2NA

    2NA F1 World Champ
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    #2 2NA, Mar 16, 2014
    Yes.
     
  3. MNExotics

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    #3 MNExotics, Mar 16, 2014
    Shhh Dayton will hear you
     
  4. m81b

    m81b Karting

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    #4 m81b, Mar 16, 2014
    Correct. I did not have to pay regular sales tax on my 328 purchased from Continental in Chicago. I do think there was a change made last year though that increased the fee to register it as a collector. There are also restrictions on how you can use a collector plate (intended for use in car shows, parades, etc) although I've never had an issue and I have them on 3 cars.

    Good luck on your hunt.
     
  5. Meister

    Meister F1 Veteran
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    #5 Meister, Mar 17, 2014
    Thanks. I've read where you are supposed to show documentaton that the car in question was produced in limited numbers (under 500) and a few other things. But they cannot be overly anal about that kind of documentation because I see late 80's early 90's corvettes up here running around with collector plates.

    thanks again
     
  6. 2NA

    2NA F1 World Champ
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    #6 2NA, Mar 17, 2014
    Last edited by a moderator: Sep 7, 2017
    After 10 years cars that meet certain requirements are eligible. After 20 years all cars are eligible. You are required to have at least one other car (daily driver) registered conventionally.
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  7. tifosi308

    tifosi308 Karting

    Jul 1, 2005
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    Midwest
    #7 tifosi308, Mar 27, 2014
    I just registered a new car as a collector (saved some serious $$$ thanks to finding this thread) and all said and done it cost me $219. That document was a little misleading as the $25 registration fee was just one of six different taxes they hit you with.

    Still.. beats 6.5% of whatever book value they decide on.
     

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