Bought a Yamaha Grizzly ? about title

[wildwill]

Bought it from my brother in law. It has a clear title. I have the title. I see on the title we both need to fill out a form 130-U. Does anyone have any experience with this? I see I have to pay a tax of 6.25% we can just say I paid like $200 for it, no biggie, that will make my taxes like $12.50. Is there anything I need to prepare for when I go to the tax office. I've personally never had to do anything like this so I'm clueless. Any input is appreciated.

[rtread]

wildwill....I just swapped titles on a car. They looked up the book price on the car right there in the tax office and compared the price I paid for the car to the book price and took the greater of the two. I guess that is their new procedure....first time it's been done that way to me.

[trailboss]

I believe it's against the law to misstate the price paid on a vehicle.

Trailboss

[Jaspro]

I think an atv is different since its not street legal TB. If it were me I would just have him sign the title and carry a bill of sale with it also.

[DWG]

The tax office will have the form you need when you go to tranfer the title. I know on vehicles you pay taxes on the value of the vehicle now so it doesn't matter what you actually paid. Not sure if this is the case with an ATV though. Something I just found out this week when I went to tranfer a title is they require a bill of sale that they never required before. Call you tax office and they will tell you everything you need. The bill of sale might have been required because the vehicle I bought is old and they could not look up the value.

[Luck_of_the_Draw]

They might could look up the value, but not the condition.

How many times do "they" get to tax the same item????????

[Jaspro]

They might could look up the value, but not the condition.

How many times do "they" get to tax the same item????????

Its the goverenment. They can do what they want too.

[Bohunter]

They might could look up the value, but not the condition.

How many times do "they" get to tax the same item????????

As many times as it is sold they call it sells tax still stinks.

[Luck_of_the_Draw]

"No taxation without representation" was a slogan in the period 1763-1776 that summarized a primary grievance of the American colonists in the Thirteen American colonies. The phrase "No Taxation Without Representation!" was coined by Reverend Jonathan Mayhew in a sermon in Boston in 1750. By 1765 the term "no taxation without representation" was in use in Boston, but no one is sure who first used it. Boston politician James Otis was most famously associated with the term, "taxation without representation is tyranny." [1]

Parliament had controlled colonial trade and taxed imports and exports since 1660.[2] By the 1760s the Americans came to believe they were being deprived of a historic right.[3] The Bill of Rights 1689 had forbidden the imposition of taxes without the consent of Parliament. Since the colonists had no representation in Parliament they complained the taxes violated the traditional Rights of Englishmen in the Magna Carta.[citation needed] The British responded that the colonists had virtual representation. The Americans said these "virtual representatives" knew nothing about America.

[Bohunter]

Bought it from my brother in law. It has a clear title. I have the title. I see on the title we both need to fill out a form 130-U. Does anyone have any experience with this? I see I have to pay a tax of 6.25% we can just say I paid like $200 for it, no biggie, that will make my taxes like $12.50. Is there anything I need to prepare for when I go to the tax office. I've personally never had to do anything like this so I'm clueless. Any input is appreciated.

If you keep it for you and never sell it why pay a tax for a peice of paper?

[Luck_of_the_Draw]

I bought a Ranger trailer for my boat. Went like a good citizen to pay the "sales" tax. Still didn't get a title for it.