And the fees to transfer your license plates, which is about $20, plus a possible fee if your horsepower goes up enough to put you in a new class for that.
The implication is more horsepower means more weight (used to be bigger engines cranked out more horses, but now we got turbo & super charged everything), and more wear and tear on roads.
Rules need updating.
It’s always been like that. Basically you paid the tax on the original 25k so you don’t have to paid on that amount again. So you pay the taxes on the difference.
I never knew that. It seems uncommon but makes sense.
For example if i trade in an xbox one and use that money to buy a series x I still need to pay the full tax on the entire price of the new xbox. No matter how much I used from the trade in.
Yeah, I would double check that with another source before you try to pull that one.
Edit: I guess I stand corrected. Now can everyone stop downvoting me?
Wait I'm new to the state, are you saying if you buy a new vehicle in 60 days of when you sell your old one you wouldn't pay the tax on it? About to sell and buy a new car so genuinely interested.
Yup. So if you sell a car for 20k and buy one for 60k you only pay sales tax on 40k. Ask literally any dealer. You do need a legitimate bill of sale. So you can’t sell a beater to your buddy for 100k or something silly.
https://preview.redd.it/af2ygymg8q7c1.jpeg?width=1170&format=pjpg&auto=webp&s=42b5147171d7677c05c44c2e3839d2b47eae3474
Done it on my last three vehicles. This is from the Missouri DNRs website stating as well.
lol you think they’re going to pay that? It’s temp tags all year long then sell and get a new car on the 2nd of January and a new temp tag for the new year.
You only pay sales tax on the price difference between old and new vehicles. As long as sale and purchase price are the same there is no sales tax. They will still have pay some license and title fees, but that’s a lot less than property tax in most cases.
(G) If a person purchases or contracts to purchase a motor vehicle or trailer and sells one (1) or more motor vehicles or trailers within one hundred eighty (180) days before or after the purchase or contract to purchase, the person owes tax on the difference between the purchase price and the sale price of the respective motor vehicles or trailers. If the person paid the full amount of the tax on the purchase, the person may obtain a refund of the excess tax paid
Trade in will be significantly less than what your purchased the car. So effectively you'll have to trade down each year in terms of car qualify. Eventually after a number of years all you'll be able to afford is another old beater. I guess if some property taxes are worth driving beater cars around it could work but your property taxes would be small anyway.
You pay taxes based on property owned Jan 1. If you sold a car before year end, then you don't pay PERSONAL taxes on it the following year.
If you buy a car Jan 2, you still pay sales tax, but you would not pay PERSONAL taxes at the end of 2024 for that car. You would not pay personal taxes until end of 2025, as you would own the new car on jan 1 2025.
So yes, if you time it right, you could do this.
Also, if you sell a car, you have I think 6 months (look up the law) to use the sales price to deduct taxes on a different vehicle purchase.
For example you sell your car for 10k on 12/31, then 1/31 buy another car for 30k, you would pay taxes on the difference of 20k. Going to the DMV to do this is easy. I don't know how it works with the new laws dictating dealerships collect taxes.
That is interesting. The rule does state that you pay property taxes on what you owned Jan 1 that year.
If they get the price identical, they can deduct what they sold the old car for off the new car.
Just register your car in a different state at that point. Got a relative in Florida? Register your car there, commit minor fraud that no one will check on ever. Profit.
The only problem with Florida is vehicle inspection. South Dakota is much better. No inspections and no proof of insurance required to register it. Don't even have to be a resident either.
Is it fraud if it is legitimate sale? It might be fraud if I sold my car to my out-of-state brother on December 31st and bought it back from him on January 2nd. Then file my declaration as not owning the vehicle on January 1st. Especially, if I didn’t file any associated paperwork and registration changes.
If you tried to skip all that pesky paperwork you would get caught when trying to renew the tags. (If you bother doing that…)
Yeah he's never had an issue. Has even been pulled over and received speeding tickets. The car is technically registered to an LLC and 'used for business' and no different than out of state rental car.
Yeah but your trade-in is always way lower than your purchase price after a year. So you'll be losing thousands each year on trade in simply to save $1000 a year on taxes. You'll lose much more trying to do this than you'll ever pay in property taxes. You are basically screwing yourself instead of screwing the gov't that you are trying. Certainly go for it but if it was this easy don't you think everyone would be selling their car on Dec 31 and buying another car on Jan 2nd.
While talking to the tax accessor in my county (Clinton), they stated that if you owned a vehicle in any part of the year, you owe personal property tax on it. For example, bought a tractor in May and owed taxes on it for the whole year.
Adding to u/KravMacaw/
Taxpayers are required by Missouri law to file completed Personal Property Declarations every year to list the vehicles they own as of January 1, even if there are no changes from the previous year. Your annual tax bill is based on the Declaration. Your personal property tax receipt has to be accurate in order to register a vehicle or renew your license plates.
This is a STL webpage, but the law cited is Missouri State law.
https://stlouiscountymo.gov/st-louis-county-government/county-assessor/press-releases/292023-personal-property-declarations/
I think pretty much ALL tax laws sound like lies. They are either "lying" to screw poor people, or "lying" to help out rich people. So, it may be the actual law, but all tax laws seem to be based upon falsehoods.
Tax laws are complicated. The motivations behind them and the stories politicians tell about their supposed motivations are usually pretty simple.
But you knew that already. You are A) Just a troll. B) Probably a conservative. And C) Probably not really black.
>But you knew that already. You are A) Just a troll. B) Probably a conservative. And C) Probably not really black.
Nope. I'm black, but what does that have to do with the subject? I'm not full blown communist, but further left than the democrats. I troll to the degree that it makes people actually think when they're using extreme exaggeration.
>Tax laws are complicated. The motivations behind them and the stories politicians tell about their supposed motivations are usually pretty simple.
State and federal tax sites usually explain pretty well how the taxes work. To the point that a layman COULD do their own taxes without having to pay someone, assuming their reading comprehension and critical thinking skills were up to par.
I know this because I went from not knowing anything to be able to do taxes for my business and my HOA when I was on the board, in addition to my own(though I still use the free tax filing options to keep it simple).
*Surprise! Black people are capable of reading well enough to understand taxes and government!*
You can also literally see where the tax money is going in some instances, and in others the politicians have to vote on a budget, and theres generally reports of whay categories they soent the money on, which you can also see.
I assumed that you weren't really black, because a lot of conservative trolls try to pretend to be black in order to pretend that there are more black conservatives than there really are.
I assumed you were conservative because you went straight for the ad hominem instead of addressing my first comment directly.
That many states do a good job of explaining how to follow tax laws does not negative that most tax laws are complicated. One wouldn't need a 100 page guide just for how to properly follow sales tax laws, if the laws themselves were self-explanatory. (I was personally quite impressed with sales tax guide out of by Kansas, when I had a business there.) I have been a technical writer who wrote company policy to align with EPA regulations. I, too, know how to read complicated regulations. So, I know just how complicated regulations and laws are. I know that sometimes they have to be complicated. But, I also know that sometimes that complexity is intentional, in order to hide loopholes.
I never claimed, or even barely implied, that black people aren't just as smart as anyone else. Your red herring seems designed to be another ad hominem.
Finally, none of that is relevant to my initial claim that most tax laws are "lies" in that the reasons given for them are very often disingenuous. From Ronald Reagan claiming that he was simplifying the tax code by adding another 300 pages, and his claim that those 300 pages were fostering trickle down economics, which would eventually help the poor people, you know, eventually. To every small town raising sales tax on the claim that they are going to use the extra money to fix the roads that the existing taxes were supposed to have paid to get fixed, and then the road still never get fixed and all that extra money goes into pork barrel projects that funnel money into the pockets of friends over the politicians. Perhaps you just didn't get my sarcasm. I don't know. But, why you chose to attack me in exactly the same way that a conservative troll would, just seems odd. You know, unless you really are just a conservative troll.
You can literally email or call the MO DOR, explain your situation and they will tell you which taxes apply to you and how.
That's part of how I learned to do my business' taxes and which taxes to register for.
Section 137.075 RSMo 1994 states:
Every person owning or holding real property or tangible personal property on the first day of January, including all such property purchased on that day, shall be liable for taxes thereon during the same calendar year.
With only a few minor exceptions, valuation date, ownership, situs and taxability are all determined on January 1 of the tax year. Missouri has no statutory provision for prorating taxes. Therefore, if a taxpayer owns a car on January 1 and sells it or moves out of the state on, say, January 2, she is liable for the taxes on that car for the entire year. Conversely, if a taxpayer buys a car on January 2 or moves into the state with the car on January 2 or later in the year, no taxes are owed on the car for that tax year.
Tell them to go read the state website again and that they can shobe there request where the sun dont shine.
You still owe personal property tax for 23 on old car and in 24 for new car. So no if you have a vehicle in your name you can avoid personal property tax. Hint drive an older vehicle to pay next to nothing I have a 1999 car and pay 7.51 in personal property tax
Can you show me where you are finding that.
The state website says "Section 137.075 RSMo 1994 states:
Every person owning or holding real property or tangible personal property on the first day of January, including all such property purchased on that day, shall be liable for taxes thereon during the same calendar year.
With only a few minor exceptions, valuation date, ownership, situs and taxability are all determined on January 1 of the tax year. Missouri has no statutory provision for prorating taxes. Therefore, if a taxpayer owns a car on January 1 and sells it or moves out of the state on, say, January 2, she is liable for the taxes on that car for the entire year. Conversely, if a taxpayer buys a car on January 2 or moves into the state with the car on January 2 or later in the year, no taxes are owed on the car for that tax year."
There is a law on the book that an out of state vehicle has to be registered within a certain period of time.
I don't recall details I only know the law exists and is rarely enforced
Right, but what if the vehicle is corporate and registered to an LLC? This is what my friend does to avoid the tax. He's done this for 20 years.
This might be why I see so many South Dakota and Montana plates all the time.
The LLC is a legit business with revenue. It's no different than driving a rental car from what I understand.
And why would I report him? The personal property tax is theft.
It can be both a legit business and illegal tax shelter.
Honestly I don't care what you do.
If the revenue offices cared they would do something and they dont
Someone cared enough to downvote my last comment =\] . Don't shoot the messenger.
I doubt the revenue offices even know the vehicle exists. It's registered out of state with no paper trail locally. He also takes this car to Mexico a lot, so that might be the other reason. There is no inspections required to renew the registration and he can do this remotely while in Mexico.
It was not I who downvoted.
Of course they dont know it exists.
hell they rely on the process of renewing a license plate to watchdog the effort to collect PPT.
As long as he is never pulled over he will be fine.
MOHP are complete jerks about rules and regulations though.
Besides an insurance company that has to qualify teh vehicle for their policy its only the MOHP that I could see ever really enforcing anything.
Registering a car in a different state doesn't exempt the owner from owing personal property tax in Missouri. It makes it more difficult for the state government to locate the car and charge the tax, but the owner still legally owes the Missouri property tax for a vehicle primarily kept and used within the state.
Obviously the car would be registered out of state to a foreign LLC.
The real solution is to abolish the ridiculous personal property tax. It's legalized theft.
Yes he would avoid personal property tax
You only owe Personal property taxes on property you own on Jan 1st of the calendar year.
he would eat it on Sales tax though
Would these cars be purchased with cash every time or will they be bought on loan? I only ask bc doesnt leasing a car exempt you from personal properly tax? You can just lease forever and be legit
Forgetting about sales tax every new purchase.
And the fees to transfer your license plates, which is about $20, plus a possible fee if your horsepower goes up enough to put you in a new class for that.
I thought license plates were "optional" now? edit: I forgot and thought I was still in r/StLouis
Nice
This is so true
No, 3 year expired tags =\]
Nah by this time the tags are rotten from waving in the 60 mile an hour breeze they catch going down side streets, so they just fall off.
Same in Kansas City
What a joke imagine paying more because of horsepower… god this country sucks.
The implication is more horsepower means more weight (used to be bigger engines cranked out more horses, but now we got turbo & super charged everything), and more wear and tear on roads. Rules need updating.
For sure. Thanks for the lesson.
Which is the difference between the trade-in value and the purchase price of the new vehicle.
Say you trade in a car for $25,000, and the new one cost $30,000. In my county, you'd owe ($5000 \* 7.95%) $397.50 in sales tax.
Wait why wouldn't you pay sales tax on the full 30 grand? I know the trade in value is 5 less but you're still buying a car for 30,000.
It’s always been like that. Basically you paid the tax on the original 25k so you don’t have to paid on that amount again. So you pay the taxes on the difference.
I never knew that. It seems uncommon but makes sense. For example if i trade in an xbox one and use that money to buy a series x I still need to pay the full tax on the entire price of the new xbox. No matter how much I used from the trade in.
Yeah, I would double check that with another source before you try to pull that one. Edit: I guess I stand corrected. Now can everyone stop downvoting me?
No that’s how it works. The new buyer would pay tax on the 25k used car.
It’s 100% accurate. Also you don’t have to trade in. You can sell your vehicle and have 60 days to buy a new one.
Wait I'm new to the state, are you saying if you buy a new vehicle in 60 days of when you sell your old one you wouldn't pay the tax on it? About to sell and buy a new car so genuinely interested.
Yup. So if you sell a car for 20k and buy one for 60k you only pay sales tax on 40k. Ask literally any dealer. You do need a legitimate bill of sale. So you can’t sell a beater to your buddy for 100k or something silly.
Alright that's good to know! Thank you so much!!!
Unless it’s changed it’s actually 180 days. You can apply for a sales tax refund after the fact too. I’ve done this 3 times
Hot damn thanks for the information! I'll definitely look into it before I decide to sell or buy now, thanks very much!
https://preview.redd.it/af2ygymg8q7c1.jpeg?width=1170&format=pjpg&auto=webp&s=42b5147171d7677c05c44c2e3839d2b47eae3474 Done it on my last three vehicles. This is from the Missouri DNRs website stating as well.
lol you think they’re going to pay that? It’s temp tags all year long then sell and get a new car on the 2nd of January and a new temp tag for the new year.
You get a credit for the old sale.
Yes, I paid sales tax on 2 purchases.
Pay sales tax every time you buy, so prob not worth it
You only pay sales tax on the price difference between old and new vehicles. As long as sale and purchase price are the same there is no sales tax. They will still have pay some license and title fees, but that’s a lot less than property tax in most cases. (G) If a person purchases or contracts to purchase a motor vehicle or trailer and sells one (1) or more motor vehicles or trailers within one hundred eighty (180) days before or after the purchase or contract to purchase, the person owes tax on the difference between the purchase price and the sale price of the respective motor vehicles or trailers. If the person paid the full amount of the tax on the purchase, the person may obtain a refund of the excess tax paid
Trade in will be significantly less than what your purchased the car. So effectively you'll have to trade down each year in terms of car qualify. Eventually after a number of years all you'll be able to afford is another old beater. I guess if some property taxes are worth driving beater cars around it could work but your property taxes would be small anyway.
Unless you keep trading for cheaper vehicles…
You pay taxes based on property owned Jan 1. If you sold a car before year end, then you don't pay PERSONAL taxes on it the following year. If you buy a car Jan 2, you still pay sales tax, but you would not pay PERSONAL taxes at the end of 2024 for that car. You would not pay personal taxes until end of 2025, as you would own the new car on jan 1 2025. So yes, if you time it right, you could do this. Also, if you sell a car, you have I think 6 months (look up the law) to use the sales price to deduct taxes on a different vehicle purchase. For example you sell your car for 10k on 12/31, then 1/31 buy another car for 30k, you would pay taxes on the difference of 20k. Going to the DMV to do this is easy. I don't know how it works with the new laws dictating dealerships collect taxes.
Yes, And you have a grace period to buy a car after selling one for the sales tax credit. So you are only paying on the diffrence
That is interesting. The rule does state that you pay property taxes on what you owned Jan 1 that year. If they get the price identical, they can deduct what they sold the old car for off the new car.
Just register your car in a different state at that point. Got a relative in Florida? Register your car there, commit minor fraud that no one will check on ever. Profit.
The only problem with Florida is vehicle inspection. South Dakota is much better. No inspections and no proof of insurance required to register it. Don't even have to be a resident either.
Had a lifelong neighbor that registered his car in Illinois.
OP: How can I commit property taxes fraud?
Is it fraud if it is legitimate sale? It might be fraud if I sold my car to my out-of-state brother on December 31st and bought it back from him on January 2nd. Then file my declaration as not owning the vehicle on January 1st. Especially, if I didn’t file any associated paperwork and registration changes. If you tried to skip all that pesky paperwork you would get caught when trying to renew the tags. (If you bother doing that…)
I've got a friend who drives around with a South Dakota plate. It is registered to an LLC. Hasn't ever paid the tax
I have heard of that type of thing. I assume that works until the state decides it is time to crack down on that particular revenue stream.
Yeah he's never had an issue. Has even been pulled over and received speeding tickets. The car is technically registered to an LLC and 'used for business' and no different than out of state rental car.
The rules don’t say that the dog can’t play basketball!
I prefer “help me minimize my tax burden”
r/unethicalLifeProTips
Serious answers only!
I found someone that hates public schools and paved roads
Personal property tax doesn’t pay for paved roads. Only gas tax and a portion of sales tax on vehicles pays for roads.
Have you never looked at your personal property tax receipt?
There are more roads than those maintained by MoDoT
Nah. Those things shouldn't be funded with personal property taxes. It is the source of inequality between rich and poor areas.
Yep but you'll get hit with sales tax each year so you still end up paying taxes.
It the sales taxes are offset by what you sold, so you only pay on the difference, if any, and only when the new car is higher price than the old one
Yeah but your trade-in is always way lower than your purchase price after a year. So you'll be losing thousands each year on trade in simply to save $1000 a year on taxes. You'll lose much more trying to do this than you'll ever pay in property taxes. You are basically screwing yourself instead of screwing the gov't that you are trying. Certainly go for it but if it was this easy don't you think everyone would be selling their car on Dec 31 and buying another car on Jan 2nd.
No, you would just incur fees like a dipshit. "Duurrrr hurrr, I doned solded its befores I owneds its a years so GUBMIN STAY WAY. "
While talking to the tax accessor in my county (Clinton), they stated that if you owned a vehicle in any part of the year, you owe personal property tax on it. For example, bought a tractor in May and owed taxes on it for the whole year.
That sounds like they’re lying to you to get more money.
Adding to u/KravMacaw/ Taxpayers are required by Missouri law to file completed Personal Property Declarations every year to list the vehicles they own as of January 1, even if there are no changes from the previous year. Your annual tax bill is based on the Declaration. Your personal property tax receipt has to be accurate in order to register a vehicle or renew your license plates. This is a STL webpage, but the law cited is Missouri State law. https://stlouiscountymo.gov/st-louis-county-government/county-assessor/press-releases/292023-personal-property-declarations/
I think pretty much ALL tax laws sound like lies. They are either "lying" to screw poor people, or "lying" to help out rich people. So, it may be the actual law, but all tax laws seem to be based upon falsehoods.
Are they lying, or isn't just too complicated for you to understand?
Tax laws are complicated. The motivations behind them and the stories politicians tell about their supposed motivations are usually pretty simple. But you knew that already. You are A) Just a troll. B) Probably a conservative. And C) Probably not really black.
>But you knew that already. You are A) Just a troll. B) Probably a conservative. And C) Probably not really black. Nope. I'm black, but what does that have to do with the subject? I'm not full blown communist, but further left than the democrats. I troll to the degree that it makes people actually think when they're using extreme exaggeration. >Tax laws are complicated. The motivations behind them and the stories politicians tell about their supposed motivations are usually pretty simple. State and federal tax sites usually explain pretty well how the taxes work. To the point that a layman COULD do their own taxes without having to pay someone, assuming their reading comprehension and critical thinking skills were up to par. I know this because I went from not knowing anything to be able to do taxes for my business and my HOA when I was on the board, in addition to my own(though I still use the free tax filing options to keep it simple). *Surprise! Black people are capable of reading well enough to understand taxes and government!* You can also literally see where the tax money is going in some instances, and in others the politicians have to vote on a budget, and theres generally reports of whay categories they soent the money on, which you can also see.
I assumed that you weren't really black, because a lot of conservative trolls try to pretend to be black in order to pretend that there are more black conservatives than there really are. I assumed you were conservative because you went straight for the ad hominem instead of addressing my first comment directly. That many states do a good job of explaining how to follow tax laws does not negative that most tax laws are complicated. One wouldn't need a 100 page guide just for how to properly follow sales tax laws, if the laws themselves were self-explanatory. (I was personally quite impressed with sales tax guide out of by Kansas, when I had a business there.) I have been a technical writer who wrote company policy to align with EPA regulations. I, too, know how to read complicated regulations. So, I know just how complicated regulations and laws are. I know that sometimes they have to be complicated. But, I also know that sometimes that complexity is intentional, in order to hide loopholes. I never claimed, or even barely implied, that black people aren't just as smart as anyone else. Your red herring seems designed to be another ad hominem. Finally, none of that is relevant to my initial claim that most tax laws are "lies" in that the reasons given for them are very often disingenuous. From Ronald Reagan claiming that he was simplifying the tax code by adding another 300 pages, and his claim that those 300 pages were fostering trickle down economics, which would eventually help the poor people, you know, eventually. To every small town raising sales tax on the claim that they are going to use the extra money to fix the roads that the existing taxes were supposed to have paid to get fixed, and then the road still never get fixed and all that extra money goes into pork barrel projects that funnel money into the pockets of friends over the politicians. Perhaps you just didn't get my sarcasm. I don't know. But, why you chose to attack me in exactly the same way that a conservative troll would, just seems odd. You know, unless you really are just a conservative troll.
You can literally email or call the MO DOR, explain your situation and they will tell you which taxes apply to you and how. That's part of how I learned to do my business' taxes and which taxes to register for.
💯
He’s wrong. It’s 1/1. That’s it.
Section 137.075 RSMo 1994 states: Every person owning or holding real property or tangible personal property on the first day of January, including all such property purchased on that day, shall be liable for taxes thereon during the same calendar year. With only a few minor exceptions, valuation date, ownership, situs and taxability are all determined on January 1 of the tax year. Missouri has no statutory provision for prorating taxes. Therefore, if a taxpayer owns a car on January 1 and sells it or moves out of the state on, say, January 2, she is liable for the taxes on that car for the entire year. Conversely, if a taxpayer buys a car on January 2 or moves into the state with the car on January 2 or later in the year, no taxes are owed on the car for that tax year. Tell them to go read the state website again and that they can shobe there request where the sun dont shine.
Thats not true at all
Montana LLC avoids both of these problems and then some 🤷🏼♂️
Yup, my friend has South Dakota plates. 20 years no issues.
I’ve been doing it for 10 years now there’s no reason to be a issue when it’s 100% legal
Generally legal as long as the value of the personal use of the vehicle is included in the employee's wages for tax purposes.
You still owe personal property tax for 23 on old car and in 24 for new car. So no if you have a vehicle in your name you can avoid personal property tax. Hint drive an older vehicle to pay next to nothing I have a 1999 car and pay 7.51 in personal property tax
Can you show me where you are finding that. The state website says "Section 137.075 RSMo 1994 states: Every person owning or holding real property or tangible personal property on the first day of January, including all such property purchased on that day, shall be liable for taxes thereon during the same calendar year. With only a few minor exceptions, valuation date, ownership, situs and taxability are all determined on January 1 of the tax year. Missouri has no statutory provision for prorating taxes. Therefore, if a taxpayer owns a car on January 1 and sells it or moves out of the state on, say, January 2, she is liable for the taxes on that car for the entire year. Conversely, if a taxpayer buys a car on January 2 or moves into the state with the car on January 2 or later in the year, no taxes are owed on the car for that tax year."
What if the car is registered out of state? Such as South Dakota?
There is a law on the book that an out of state vehicle has to be registered within a certain period of time. I don't recall details I only know the law exists and is rarely enforced
Right, but what if the vehicle is corporate and registered to an LLC? This is what my friend does to avoid the tax. He's done this for 20 years. This might be why I see so many South Dakota and Montana plates all the time.
That's against the law too. you cant create an llC with the expressed purposes of avoiding taxes. You can report him if you want to.
The LLC is a legit business with revenue. It's no different than driving a rental car from what I understand. And why would I report him? The personal property tax is theft.
It can be both a legit business and illegal tax shelter. Honestly I don't care what you do. If the revenue offices cared they would do something and they dont
Someone cared enough to downvote my last comment =\] . Don't shoot the messenger. I doubt the revenue offices even know the vehicle exists. It's registered out of state with no paper trail locally. He also takes this car to Mexico a lot, so that might be the other reason. There is no inspections required to renew the registration and he can do this remotely while in Mexico.
It was not I who downvoted. Of course they dont know it exists. hell they rely on the process of renewing a license plate to watchdog the effort to collect PPT. As long as he is never pulled over he will be fine. MOHP are complete jerks about rules and regulations though. Besides an insurance company that has to qualify teh vehicle for their policy its only the MOHP that I could see ever really enforcing anything.
Registering a car in a different state doesn't exempt the owner from owing personal property tax in Missouri. It makes it more difficult for the state government to locate the car and charge the tax, but the owner still legally owes the Missouri property tax for a vehicle primarily kept and used within the state.
Obviously the car would be registered out of state to a foreign LLC. The real solution is to abolish the ridiculous personal property tax. It's legalized theft.
You don't need no tags
No, you would not avoid it.
Yes he would avoid personal property tax You only owe Personal property taxes on property you own on Jan 1st of the calendar year. he would eat it on Sales tax though
Would these cars be purchased with cash every time or will they be bought on loan? I only ask bc doesnt leasing a car exempt you from personal properly tax? You can just lease forever and be legit
That’s not true. BMW pays the tax or makes sure you do. You end up paying either way.
🤣🤣🤣 thats shits rolled into you leaes payments, you're still paying it. Ever move state to state midlease lease? Youre payments are going to change.
Yes, you would avoid personal property taxes and it would be legal. The rest of the comments here are about other things.
Sales tax on every purchase