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Max Online: 16728 @ 03/25/12 08:51 AM
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#6222629 - 03/14/16 01:35 AM Trade question for retail dealer.
blackcoal Online   content
THF Trophy Hunter

Registered: 01/19/12
Posts: 9080
Loc: 60 Mi North of DFW
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?
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The Greatest Enemy of knowledge is not ignorance,
it is the illusion of knowledge.--Stephen Hawking

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#6222635 - 03/14/16 04:12 AM Re: Trade question for retail dealer. [Re: blackcoal]
patriot07 Online   content
Pro Tracker

Registered: 11/06/11
Posts: 1802
Loc: Royse City, TX
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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#6222643 - 03/14/16 05:18 AM Re: Trade question for retail dealer. [Re: blackcoal]
GasGuzzler Offline
Pro Tracker

Registered: 12/15/13
Posts: 1985
Loc: Cooke County, Texas
Yep, just like a car purchase (except for the rate). Tax paid on money transferred.
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#6225869 - 03/16/16 05:52 PM Re: Trade question for retail dealer. [Re: blackcoal]
booradley Offline
Veteran Tracker

Registered: 01/20/11
Posts: 2001
Loc: Justin, TX
Correct
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Assistant Secretary - U.S. Dry Bean Council

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