Sales Tax & Financing

hazmat · Apr 30, 2002

I live in North East Massachusetts (5% sales tax). The closest dealers for the big three are all in Tax Free New Hampshire. If I purchase and finance a tractor will the dealer collect sales tax?

I know that I am required by Mass to pay the tax, but might be willing to risk it. If the New Hampshire dealers collect the tax, I will look in Mass as far as price comparison goes.

Hopefully the CFO will approve this purchase & change this from a theoretical question to a practical dilemma.

Steve

Anonymous Poster · Apr 30, 2002

Oh NO not another sales tax dodger !!!! The state needs all of your hard earned money !!!

The bad news: The state of Mass requires that you pay sales tax ( 5 % ) on your purchases ( in MA ) or a USE tax ( 5 % ) on anything that is purchased outside the state for use in MA.

Now the good news: If you buy the tractor in New Hampshire, the New Hampshire dealer will not collect sales tax if the tractor is delivered in New Hampshire ( at his lot ...nudge nudge!! or if you sign the papers that say you took delivery in New Hampshire ...wink...wink !! ) The finance companies don't care.

Back to the bad news: If you need to register the tractor
( want to drive over the road to friends house ) the you need to pay sales tax to MA.

How will you get caught: You shouldn't unless you brag about it or list your personal info and intentions on the Internet !!!

Technically, you're also required to pay your town a personal property tax ( similar to excise ) on an annual basis on the tractor, your cows, and other livestock. Bet you didn't know that the electric company has to pay your town a tax for the poles and wire in your town !!!

Save the money, buy in New Hampshire, keep it quiet, and enjoy the attachments you can now afford with the savings.

Not that I'm talking from experience ......

TerryinMD · Apr 30, 2002

Good grief!! Sounds like you guys need to move from the NE. /w3tcompact/icons/shocked.gif

I knew that they tax the pants off of you guys... but it sounds darn right ridiculous. /w3tcompact/icons/crazy.gif Maybe I need to revisit my thoughts on Maryland being the Peoples Republic of Maryland and having some high taxes!! /w3tcompact/icons/blush.gif

Terry

Anonymous Poster · Apr 30, 2002

I just filled up the auto...sticker on pump said 42 cents per gallon in taxes most of it Massachusetts.

tgello · Apr 30, 2002

yeh, live in CT and see what taxes are all about. but i would still rather live in ct instead of mass. you guys are stuck with that fool named ted kennedy ha ha ha ha ha . the only worst thing would be to live next door to jane (hanoi) fonda....tgello

Rick Jay · Apr 30, 2002

Well....we might not have Jane (Hanoi) Fonda in our state, but don't forget that we are still saddled with Jane (notso) Swift as "acting" governor until the elections.

They don't call this "Taxachusetts" for nothing.

~Rick

frank_f15 · Apr 30, 2002

if u boys don't pay enough tax come down to n.y. we have a surplus of taxws that u can take your pick of. we pay 8% where i live on everything but food and even some of that.

Carl_NH · Apr 30, 2002

tegllo,

At least we don't have that Kmart girl living and breathing right next to us like you do in CT. She's a peach and a thorn rolled into one.

Live Free or Die,

Carl

rancar · Apr 30, 2002

I agree with Terry. Here in New York State, tractors may be a tax free purchase under certain circumstances based on purpose the tractor will be used for. But, you have to live in New York and the tractor has to be used on a commercial farm operation in New York. Big contingency for many but for some of us it comes to a big, tremendous savings....in my case about $2K. /w3tcompact/icons/smile.gif

Regards,
Bob Ancar
Cambridge, NY

rancar · Apr 30, 2002

"...that Kmart girl...She's a peach and a thorn rolled into one."

Bad news is I think I heard she's moving on from Kmart to haunt other popular do it yourself places like my favorite paint store Sherwin Williams.

tgello · Apr 30, 2002

carl, we got rid of her. we shipped her off to frank 15's neighborhood...it,s pretty sad how people will buy the junk that they market under thier names.ever see hgtv? those shows with the women who make junk with hot glue guns? it kills me. those are the people that they target..

marrt · Apr 30, 2002

Well, I live in the wonderful state of VA. I have been paying “property” tax on a vehicle I lease (hey, it’s not my property…I just lease it) to the tune of about 4.5% EVERY YEAR. So I decided to just buy the vehicle as the lease was about up. Guess what? Now I get to also pay another 2% sales tax this year on the residual value.

So let’s see…I get taxed on the money when I make it, taxed when I spend it, taxed on the property I spent it on, and taxed when I pass along the property to my grandkids. Ok, yes, sounds fair.

I believe if people REALLY knew and considered how much money we get taxed in this country, we would have another Boston Tea Party. If we ever do, count me in.

Carl_NH · Apr 30, 2002

Ralph,

Now there's a pear, Ralph Lauren and the kmart lady selling paint in your local store..

It's too bad that society buy image before quality and value today.

Oops, forgot this is a tractor forum.

So we will still Live Free or Die in NH, no matter what happens in the other 49

billfires · May 1, 2002

hazmat, I don't know about a new tractor but I bought a year old NH from a private party and received the "Title" for it from the finance co. When I inquired about a new title I was advised that I would have to pay sales tax on the book value (more than I paid). I had the previous owner sign the title but not date in case I ever have to sell it (the Dept. of revenue will assess penalty and interest from the date you bought it if it is dated).

Bill C

Hoosier_Daddy · May 1, 2002

Personally I think that Martha is one heck of a woman. Anybody who can personaly make all that stuff with her name on it has to be one of the most busiest people on earth. And she does it all from scratch. She picks the cotton to make the towels. Digs the ore, melts it down, hammers it out to make the shovels. Hand dips the water out of Lake Erie and adds different dye's to make all that paint..... Just amazing... And, we laugh at her. She is the one laughing. She probably makes enough to buy the John Deere Company.

Can you imagine her building tractors and the pastel colors she would paint them?

Charliebrn · May 1, 2002

So THATS where McChalkey got the idea for his pink EF-5!!! /w3tcompact/icons/smile.gif

rancar · May 2, 2002

She probably makes enough to buy the John Deere Company.

Only if she has approximately $10.64 billion, which according to Bloomberg is current market cap as of today's closing prices. /w3tcompact/icons/wink.gif

hazmat · May 2, 2002

Thanks for the info guys.

BillC, Where in MA are you? I grew up in Dartmouth.

Now, If I could just get Martha to buy me a tractor... I suppose I'd let her pick implements based on color & style, so long as she was paying the bill.

Hazmat

billfires · May 2, 2002

Hazmat, I'm in Berkley (next to Taunton)

Bill C

rancar · May 2, 2002

"...I suppose I'd let her pick implements based on color & style..."

Be careful here hazmat. She may choose chartruse, salmon, or one of those real 'cute' colors she favors in paints, wallpapers, towels and the like. Then, you'll really have all the gals chasing after you when you're tractoring...but it may be the tractor they may be after. /w3tcompact/icons/wink.gif