Can you still transfer a title and just pay the $15 gift tax? I heard a while back they did away with that? Specifically Denton county.
Printable View
Can you still transfer a title and just pay the $15 gift tax? I heard a while back they did away with that? Specifically Denton county.
They have this new deal called the interweb, you should give it a try! ;-)
Link - http://www.txdot.gov/frequently_asked_questions/vtr.htmQuote:
Q: What steps should I follow to give a vehicle as a gift to a friend or relative?
A: Please give the recipient your (signed) negotiable title and request that the recipient complete a title application [pdf, 2 pages, 157kb], which must be provided to their county tax office.
On the title application, the recipient should check the "$10 Gift Tax" box found in Section 21. The recipient will have to provide proof of auto insurance at the county tax office to register the vehicle.
Quote:
Originally Posted by POS Racing
Is it free? I don't want to pay for that service.
Thanks I actually found the link soon after posting the thread. Looks like it's still alive and kicking, need to move the S2000 title over to my name next week when the Mini S arrives.
Yes if you check the gift box then you only pay $10 instead of the 6.25%. I've done it a few times without any problems but the tax ladies can be pretty sly and once a friend of mine was told he couldn't do the gift exemption for some reason. If that happens you just need to stick to your guns. Also you have to pay about $50 in other fees, this is on top of the 6.25% or $10.
Thanks for the heads up, do you remember what the other fees were? We'll probably keep the same plate on the car and I have heard that the tax office people can be a bit pushy about not letting you do it but I guess I will print out the documentation on the website.Quote:
Originally Posted by Davidss
You are shifty character so you may want to take your GF with you so she can confirm your "gift story" to help expedite the process! ;-)
From a thread on corvetteforum:Quote:
Originally Posted by CosmosMpower
- $13 Title Application Fee
- $15 Texas Mobility Fund (WTF?)
- $10 "Gift" Fee
- $2.50 Transfer Fee
-----------------------
$40.50 Total
No, TMF. ;)Quote:
Originally Posted by Davidss
Also, your signature must be on both the title AND the title application.
Can you link me to that thread? I heard Denton county no longer does the gift tax thing, but it's on the TX dot website so I'm not sure who has jurisdiction to decide (county or state).Quote:
Originally Posted by Davidss
Edit: Nevermind found it myself.
I transferred a title with the gift thing just last week and everything worked just fine.
Sweet thanks for the info, I just need to get off my butt and go turn in the paperwork at lunch, the tax office closes so early.Quote:
Originally Posted by Davidss