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Re: Question for people who know DMV TTL rules
Quote:
Originally Posted by Goat Blower
Niteryder is correct, but that's only through a registered dealer. If this is a private party sale, both pay sales tax on the typical market value of each car, not $1. Dealers will rarely do a straight swap, which leads me to believe this is a private party deal.
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As yeah very good point! I was thinking dealer for some reason.
Taxable Fair Market Value would be what is paid on. Don't try to tell the DMV you sold it for $1 under the $3k or whatever the taxable limit is now, they won't buy it and will probably scowl at you.
http://dmvlocations.net/state/MN.html
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My street car runs low 11's and my race car's personal best is a mid 11....
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