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Trade question for retail dealer.
#6222629
03/14/16 06:35 AM
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Joined: Jan 2012
Posts: 9,273
blackcoal
OP
THF Trophy Hunter
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OP
THF Trophy Hunter
Joined: Jan 2012
Posts: 9,273 |
If I as an individual trade a gun valued at $1000 for a gun valued at $1000 from a retail gun dealer is there any sales tax due? What if I as an individual trade a $1000 gun for an trailer valued at $1400 from a retail dealer, is the tax based on the $400 difference or the $1400 value of the trailer?
The Greatest Enemy of knowledge is not ignorance, it is the illusion of knowledge.--Stephen Hawking
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Re: Trade question for retail dealer.
[Re: blackcoal]
#6222635
03/14/16 09:12 AM
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Joined: Nov 2011
Posts: 4,538
patriot07
Extreme Tracker
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Extreme Tracker
Joined: Nov 2011
Posts: 4,538 |
No sales tax if no money is transferred ($1000 gun for $1000 gun).
In your 2nd example, tax would be paid on the $400 difference.
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Re: Trade question for retail dealer.
[Re: blackcoal]
#6222643
03/14/16 10:18 AM
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Joined: Dec 2013
Posts: 6,779
GasGuzzler
THF Trophy Hunter
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THF Trophy Hunter
Joined: Dec 2013
Posts: 6,779 |
Yep, just like a car purchase (except for the rate). Tax paid on money transferred.
Pass the gravy.
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Re: Trade question for retail dealer.
[Re: blackcoal]
#6225869
03/16/16 10:52 PM
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Joined: Jan 2011
Posts: 2,394
booradley
Veteran Tracker
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Veteran Tracker
Joined: Jan 2011
Posts: 2,394 |
Don’t roll those bloodshot eyes at me.
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