Scruit Posted June 11, 2012 Report Share Posted June 11, 2012 I would think they would need a warrantMaybe they got one. The buyer wouldn't get notified is a warrant was obtained, would they? Quote Link to comment Share on other sites More sharing options...
JStump Posted June 11, 2012 Report Share Posted June 11, 2012 scared the crap out of me... I was worried that paying up promptly would mean I was admitting guilt in trying to commit tax fraud or something. I was like "I'm just gonna pay this ASAP and hope it ends there." So far so good.What was the retail value of the bike? Because that is what they might have based that number on. And I would say being a tax issue, they do have the ability to look at your bank account. Quote Link to comment Share on other sites More sharing options...
obesityrules Posted June 11, 2012 Report Share Posted June 11, 2012 Not to get to far off the whole tax evasion thread , but how should you handle the amount paid on a title when trading vehicles? would you put the blue book value of the trade or just write in zero. if you did a trade plus cash would you add this amount to the title? I have never done a vehicle trade and was curious how the title should be handled for these transactions. Quote Link to comment Share on other sites More sharing options...
Steve Butters Posted June 11, 2012 Report Share Posted June 11, 2012 when you "trade" you still have to assign a value....so, i would say the legit way would be to put blue book value, plus or minus whatever you feel (mods, damage, whatever)even if you trade for a service, say you give me your car in trade for me putting a new roof on your house, i would have to value the car and pay tax on it...if i told them idk a value since it was a trade, they would charge book Quote Link to comment Share on other sites More sharing options...
Bad324 Posted June 11, 2012 Report Share Posted June 11, 2012 when you "trade" you still have to assign a value....so, i would say the legit way would be to put blue book value, plus or minus whatever you feel (mods, damage, whatever)even if you trade for a service, say you give me your car in trade for me putting a new roof on your house, i would have to value the car and pay tax on it...if i told them idk a value since it was a trade, they would charge bookeither I got bad info from the dmv and bank or this isn't exactly true. When I traded my G35 for the Camaro I just put trade and wasn't charged any tax nor was I ever contacted to pay anyNivin, I've heard of people doing this and as long as the buyer and seller both know what was put on the title if they get letters then it won't be an issue. I've heard of someone who bought an 05 600rr (in 09) for "$1500" because it "had no fairings or levers" Quote Link to comment Share on other sites More sharing options...
Steve Butters Posted June 14, 2012 Report Share Posted June 14, 2012 either I got bad info from the dmv and bank or this isn't exactly true. When I traded my G35 for the Camaro I just put trade and wasn't charged any tax nor was I ever contacted to pay anyNivin, I've heard of people doing this and as long as the buyer and seller both know what was put on the title if they get letters then it won't be an issue. I've heard of someone who bought an 05 600rr (in 09) for "$1500" because it "had no fairings or levers"you got bad info.we did the "trade" thing with my girls car and another guys car, and it was fine...some little bubby bmv in the hills did it and nobody said anything....but by law, you have to put a value....call a major bmv and ask them and see what they say, perhaps its a county law or something, but ive been told this on several occasions by several bmvs in franklin county Quote Link to comment Share on other sites More sharing options...
Lilbit Posted June 14, 2012 Report Share Posted June 14, 2012 you got bad info.we did the "trade" thing with my girls car and another guys car, and it was fine...some little bubby bmv in the hills did it and nobody said anything....but by law, you have to put a value....call a major bmv and ask them and see what they say, perhaps its a county law or something, but ive been told this on several occasions by several bmvs in franklin county A county law Quote Link to comment Share on other sites More sharing options...
Bad324 Posted June 14, 2012 Report Share Posted June 14, 2012 you got bad info.we did the "trade" thing with my girls car and another guys car, and it was fine...some little bubby bmv in the hills did it and nobody said anything....but by law, you have to put a value....call a major bmv and ask them and see what they say, perhaps its a county law or something, but ive been told this on several occasions by several bmvs in franklin countyInteresting. My general rule for calling the bmv with a question is to call 3 different branches to see if I get the same answer and in this case it was 2 different counties so I mustve gotten lucky Quote Link to comment Share on other sites More sharing options...
CoolWhip Posted June 14, 2012 Report Share Posted June 14, 2012 Tax Evasion is bad. That is how Al Capone finally got arrested Quote Link to comment Share on other sites More sharing options...
Ault Posted June 14, 2012 Report Share Posted June 14, 2012 I would not discuss tax evasion on a public forum. Leave the price blank and let him deal with the law.THIS:nono: Quote Link to comment Share on other sites More sharing options...
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