OSUYZFR1 Posted February 3, 2015 Report Share Posted February 3, 2015 If I buy a new bike out of state and don't plan on registering it for plates what happens if I sell it to someone who wants to put it on the street? Specifically, how would the taxes be handled? Just wondering if I can get out of paying taxes this way. Quote Link to comment Share on other sites More sharing options...
rawlins87 Posted February 3, 2015 Report Share Posted February 3, 2015 Legally no. You don't have to buy plates for it to put it in your name. Taxes on the other hand, yes. Quote Link to comment Share on other sites More sharing options...
MidgetTodd Posted February 3, 2015 Report Share Posted February 3, 2015 Have to pay taxes when title is transferred to you, plates have nothing to do with taxes. Quote Link to comment Share on other sites More sharing options...
OSUYZFR1 Posted February 3, 2015 Author Report Share Posted February 3, 2015 Have to pay taxes when title is transferred to you, plates have nothing to do with taxes.What if I don't register it? When I end up selling it, are taxes due for the original selling price? Quote Link to comment Share on other sites More sharing options...
MidgetTodd Posted February 3, 2015 Report Share Posted February 3, 2015 If you dont take the title in and put it in your name you wont have to pay taxes no. But then its not legally yours, as far as the law is concerned it still belongs to the previous owner. Also if you sell it later and it never went in your name first thats called floating and its illegal too. Up to you on how much its worth to you Quote Link to comment Share on other sites More sharing options...
TimTheAzn Posted February 3, 2015 Report Share Posted February 3, 2015 I always pay anywhere $1-$10 for my motorcycles from private sellers. Quote Link to comment Share on other sites More sharing options...
wantahertzdonut Posted February 3, 2015 Report Share Posted February 3, 2015 While I disagree with paying sales tax on used vehicles, the potential headaches it alleviates are worth saying a sale price of $100+/- on the title. Plus I wouldn't buy a vehicle from someone whose name isn't on the title. Too greasy. Quote Link to comment Share on other sites More sharing options...
3.504 Posted February 3, 2015 Report Share Posted February 3, 2015 While I disagree with paying sales tax on used vehicles, the potential headaches it alleviates are worth saying a sale price of $100+/- on the title. Plus I wouldn't buy a vehicle from someone whose name isn't on the title. Too greasy.All of thisAnd as a person who generally reaches the 5 title sales rule in Ohio (rather quickly)... I always write on the title the purchase price I paid in truth. I just mark my sale price up to cover my costs in taxes. Which is only 6.5% (or maybe 6.75% now?) Which trust me, is FAR less than income tax as a dealer.I'm not an advocate of the state either, I'm just a prisoner of it forced to live within its system. Quote Link to comment Share on other sites More sharing options...
OSUYZFR1 Posted February 4, 2015 Author Report Share Posted February 4, 2015 Just to clarify a bit, this is for a brand new bike so I can't put in 100 as the purchase price. Also I'm not trying to avoid paying the taxes just delaying the payment. When I go to sell it I'd get the title in my name which would mean paying the taxes. I'm wondering if there would be any issues with this. Only thing I've seen is a 5$ late fee for not applying for the title within 30 days but I haven't done indepth research. It is going to be a track/race bike only and the possibility exists that it gets totaled. At that point do I need to care that I don't have the title? Also 1000$ saved now can goes towards parts. I need to call my insurance to see if they will still cover it for theft. Quote Link to comment Share on other sites More sharing options...
MidgetTodd Posted February 4, 2015 Report Share Posted February 4, 2015 I'm doubting they would cover since it's technically not yours until titled to you. Look into seeing if the dealer will sell to you on an MSO since you're buying new. Quote Link to comment Share on other sites More sharing options...
zx3vfr Posted February 4, 2015 Report Share Posted February 4, 2015 Stop being cheap. If you're buying a bike out of state pay for the damn sales tax when you bring it back. You'll get the itch to ride one day and karma will cause you to crash then you'll be in a heap of trouble for no registration and tax fraud. Quote Link to comment Share on other sites More sharing options...
MidgetTodd Posted February 4, 2015 Report Share Posted February 4, 2015 Stop being cheap. If you're buying a bike out of state pay for the damn sales tax when you bring it back. You'll get the itch to ride one day and karma will cause you to crash then you'll be in a heap of trouble for no registration and tax fraud.You do not even know him. He rides track with us, not street. This bike won't see the street with his ass in the seat. Calling someone cheap that can buy and sell you twice over is not very accurate. MSO instead of title if they'll do it, problem solved for the most part. Quote Link to comment Share on other sites More sharing options...
OSUYZFR1 Posted February 4, 2015 Author Report Share Posted February 4, 2015 Stop being cheap. If you're buying a bike out of state pay for the damn sales tax when you bring it back. You'll get the itch to ride one day and karma will cause you to crash then you'll be in a heap of trouble for no registration and tax fraud.LOL, Apparently reading is not a strong point for you. It's not going on the street. If it does, it will be done legally. Quote Link to comment Share on other sites More sharing options...
3.504 Posted February 4, 2015 Report Share Posted February 4, 2015 You do not even know him. He rides track with us, not street. This bike won't see the street with his ass in the seat.Calling someone cheap that can buy and sell you twice over is not very accurate.MSO instead of title if they'll do it, problem solved for the most part. i was also going to suggest the MSO route. that was common practice a few years ago. you may need to speak to a manager to get real info, i'm betting most salesman dont know what an MSO is. Quote Link to comment Share on other sites More sharing options...
zx3vfr Posted February 4, 2015 Report Share Posted February 4, 2015 Even if you don't title I hope your planning on claiming an out of state purchase on your 2015 state tax return. Quote Link to comment Share on other sites More sharing options...
Tonik Posted February 4, 2015 Report Share Posted February 4, 2015 Calling someone cheap that can buy and sell you twice over is not very accurate. Actually calling someone cheap that can buy and sell someone twice over that is trying to avoid some minor sales tax in comparison is a very accurate definition of cheap. Nothing wrong with being cheap but it is what it is. Quote Link to comment Share on other sites More sharing options...
OSUYZFR1 Posted February 4, 2015 Author Report Share Posted February 4, 2015 Actually calling someone cheap that can buy and sell someone twice over that is trying to avoid some minor sales tax in comparison is a very accurate definition of cheap. Nothing wrong with being cheap but it is what it is.Actually, frugal is a better definition of what I'm asking about. I see them as two completely different definitions. ???? Quote Link to comment Share on other sites More sharing options...
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