Thread Archive > STAR 2018
STAR 2018 Full survey results
HawkGTRider:
In Tennessee, you don't have to pay sales tax on a "won" bike...until you try to register it. At that time, the State will collect their 3# of flesh.
If you don't want to keep the "won" bike, you don't have to pay the sales tax...until you find out you can't sell the bike until you've registered it. And once again, the State collects its fees.
If I understand it, if you trade the bike in on a different bike, you will pay sales on the "won" bike, but only on the difference between the "won" bike and the new bike assuming the new bike is more expensive. If it happened to be less, then the State folks will just smile as they shrug their shoulders and say too bad.
At least that's the way I think it is in Tennessee.
RichGrab:
Pat - What Geoffrey said. The sales tax becomes due when you register it just like any vehicle. They asked me what it was worth, tried to get away with "Well I won it, so really none." They laughed and I put a value on it which they accepted.
Geoffrey - well, if you trade it for something else at the dealer and don't have to register it first, then you'd pay the sales tax on whatever the value is of the bike you actually buy (and I doubt the dealer is gonna let you trade for something cheaper and give you money back ;D ).
Note - for income tax purposes, it all depends on what tax bracket you are in. I'm a poor, underpaid single guy, who works for a non-profit. My bike win increased my gross income by like 30%.
Ride4MS:
And in Minnesota, about 10 years ago, I was given a 1986 Gold Wing Interstate, by my cousin. It was her Dad's, my Uncle and the agreement was to restore it and not sell it. It had sat for about 10 years under a small roof, no sides on the shelter, dirt floor with about 1" bat crap on the seat.
I had to get a paper from her stating it was a gift and was worth less than $50.00 as is. By the time I got done, with going to our local DMV twice, which as we have found out through the years, they do not know anything. I finally went to the next town and they corrected all the forms and all I had to do is pay for the collector plate, as it is over 20 years old, and never have to buy another plate again.
The first DMV said I had to pay $131.00 sales tax and fees, which I did, because the form stating it was a gift did not mean anything. They said Gold Wings are worth a fortune no matter what age or shape. The 2nd DMV filled out forms, and the $131 was sent back from the state of MN to me in about 30 days. The transfer and collector license was $10.00.
I also did not have to pay the license tab fees for all the years it was not licensed while sitting.
So, every state is different, but just giving some ideas here, so that if you are as lucky as Rich or Sherry this year, make sure the DMV knows how to process correctly. And, every state will be different.
By the way, when Sherry got her raffle bike home, Husband Doug rode it, and liked the Versys so much, that he bought one for himself.
DirtFlier:
Carl - you're correct about finding a DMW worker who knows the ropes making all the difference!
HawkGTRider:
--- Quote from: Ride4MS on July 27, 2018, 11:08:51 pm ---<snip>
By the way, when Sherry got her raffle bike home, Husband Doug rode it, and liked the Versys so much, that he bought one for himself.
--- End quote ---
That's outstanding!
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