Quote:
Originally Posted by mcphelps
I think his concern is the sales tax he will have to pay on the replacement car. If his car was worth 30K, then with that cash, he can only get a 26K car because of the sales tax.
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Yes, that's the thing. I was wondering if anyone here had experience with totaled cars and whether they were compensated for sales tax. I already faxed the bill of sale to the insurance company, and still waiting for them to respond.
Honestly, I think the greedy government is double dipping. They already taxed the cars once when they were new. They should not be taxing them again when sold used. really, if a car was sold 10 times, with each time the government getting a 13% tax revenue (assuming no depreciation), that means the government earned on that car 130% of the car's value as tax!!!!
