Quote:
Originally Posted by DanEC
That's the nice thing about a State with a Republican Government. In Arkansas at the tag office:
Can I register it as a 60s Cobra Replica - Sure thing - no problem.
In that case can I tag it as an Antique Car - Sure thing - no problem.
Do I need to pay tax on the purchase cost - No, we'll register it as a "no sale transaction". I need $12.75 from you for the tag fee.
Thought I had died and ended up in Heaven. 
They did get me on annual vehicle property tax but I went down this year and pointed out that they have been charging me the same tax every year - it is a replica so it's not worth what I spent to build it - isn't there some way to depreciate it. Response - Oh my, that is high. Yes, we can start depreciating that value every year for you. Let me take care of it. |
OK, here in our great Democratic CT...OMG!
First two points, same here and emissions exempt!
Your third point. kills us, we have to pay 6% tax on the sale price or book value. If you have a bill of sale for lower than the book value you can get the difference back with an affidavit signed by the seller and notarized. Generally with a used kit car, they just go by the bill of sale unless it is ridiculously low.
Fourth point, we kill you. If you car is 20 years or older, your property tax will be on a 500.00 flat assessment. Cost me around 13.00 a year. Not bad considering that is my nicest car. My Harley hit the 20 year mark this year, it will be the same for that. Same for my PU truck plow truck. I have another 10 years to go on my Mustang and Toyota.
The sucky part is I am getting older along with the cars and I don't see my Federal, State, or house taxes going down
