12-15-2011, 01:18 PM
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#1 (permalink)
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A True Z Fanatic
Join Date: Jan 2011
Location: Fort Bliss, TX
Age: 41
Posts: 1,440
Drives: 2011 GM 370 base SP
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Quote:
Originally Posted by Pharmacist
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!!!!  |
If you had a 30k dollar car and it got sold 10 times for 30k dollars with a 13% sales tax you would end up at 39k dollars. So yes the grand total is 130% of the value of the car, but you wouldn't see that unless you bought and sold the car to yourself 10 times. Realistically, the way most cars hold value I bet a lot don't ever add up to even the original MSRP if you added up all sales tax on a given car.
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