Sales Tax Question

Look up the Standard Presumptive Value calculator on the TXDMV.gov website.
You put in your VIN and miles and a value will show up. This is assuming the Ferrari is in the system.
It's likely that the Ferrari is not listed, which is good. Then they go by the sales document you provide to them.
Who really knows how much you paid for it and where you got the sales receipt ;-)
If the Ferrari is in the system, and the Presumptive value is higher than you paid, there is a method of recourse as described on the website.
You will need a Texas vehicle inspection before you go down to register.
Good Luck

 

I bought my Mondial 3 years ago in California.

When I went to register it in Texas, at the county tax assessor/collector office (Plano Tx), they asked me what I paid. I showed them the sales contract. They based the tax on that document.

Sid

 

I register all my vehicles (6) in oklahoma - sales tax is 3.25% i believe and the only verification for sales price they use is whatever paperwork you give them or actually even just tell them. Just did my new to me 308 with a $14,000 sales price. Only requirement is that you have to have insurance that is valid in oklahoma. Just north of the border is quick drive to Marietta where I go to register and title. Also Oklahoma has no vehicle inspections or front plate requirements

 

It's a flat fee. I think about $40.

 

Doesn't that require owning PROPERTY in Oklahoma?

 

sure does not - they have my texas address on the title and registration

 

Interesting...

 

Great info. Thanks!

 

They should not have to leave the parking lot for the inspection.

 

+1. they have to go by the actual sales price if it's an arm's length sale. Bring your proof of payment too. Cancelled check, wire transfer, etc.

 

The 2 different inspection places I use both drive the cars, but they don't leave the premise. Neither one drove the cars on any public streets. Just around the building to check brakes.

You can avoid this entirely by getting Texas Antique Vehicle plates if your car is 25+ years old. No inspection required. However, the caveat is that you are only supposed to drive the vehicle to "events", "parades", or to/from service. I've talked to many people with antique plates, none of them have ever been stopped by the police and questioned about where they were driving to/from.

I didn't go the antique plate route because I wanted to get personalized plates.

Sid