Hello,
I bought a new car (cash) in August of this year, and then sold it at a loss (about 4%) last week. Does anyone know if Pa offers refunds on taxes? I figured I'd ask here first before calling the dmv. Its always a long wait.
thanks
To my knowledge no state does that any more than they would if you bought a TV set or toaster and sold it at a loss a few months later. The sales tax applies to the price of the item at the time of sale.
If I bought a television or mattress from a store that offered a 90 day return policy I would get the taxes returned if the item was returned. thanks
Please ask your accountant or advisor for tax & financial advice
Would that same logic apply if you purchased a new car 5, 10, 15 or 20 years (etc.) ago and sold it at a loss last week? Why the Pennsylvania Department of Revenue would go broke refunding sales tax to everyone for all consumer goods purchased and sold later at a loss. And yard sales would become the greatest tax break in America.🤔
So I agree with @chucktobias on this one. But if you are successful in your quest, please let us know.
If I bought a television or mattress from a store that offered a 90 day return policy I would get the taxes returned if the item was returned. thanks
You did not return the car to the dealer for a refund, you sold it to a 3rd party. There is no refund of purchase price or taxes involved in such a transaction.
Likewise, if you bought a television or mattress from a store and then turned around and sold it to someone else you would not get the purchase price back or the taxes refunded. You are conflating two completely different situations.
You will not receive a refund on your sales tax.
You are most likely correct about a refund on the car taxes.. I will call and find out what the dmv says. Also contact my accountant.
Of course I would not return a small purchase to different vender and expect taxes returned.
You are wasting your time. You will never get your taxes back. They're gone.