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Do you have to report the correct selling price of a vehicle to the DMV?
Wiki User
∙ 16y ago
Technically, yes. But what two folks agree upon with no witnesses around.... ;-) Up to you, my friend.
Most states do not use the selling price as a basis for registration taxes. I remember in the 70,s whenever I biought a vehicle I made sure the bill of sale said $50 so the registration would be cheaper. Nowadays the DMV has caught on to this trick and base their taxes on the depreciated value of the original base price of the vehicle.
Wiki User
∙ 16y ago
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Define cost price and selling price?
define cost and selling price
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What is the correct formula when markup is based on selling price?
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How can you find out where to donate a car in order to get tax deductions in the UK?
Many charities in the UK will accept vehicles for donations as they can use the funds from the vehicle after selling it. Be sure to ask for a tax receipt for the value of the vehicle or if the charity sells it, the selling price.
Define cost price and selling price?
define cost and selling price
If selling price is S and product price is P then what will be the profit?
Selling price is somethng on which the profit depends so its Selling price - Product price = profit
