I bought a bike from www.bikerepo.com and have ? about title?

Question

i was told that in florida if its a gift u dont have to pay taxes but what about in ohio i just got the bike yesterday and im not sure if i should fill this title in as a gift or what i payed for it any suggestions?

Answer 1

No.  You are mistaken.

It has to be gift from a family member to you.  The DMV will NOT BELIEVE that  BIKERREPO.COM gifted a bike to you.  And they will NOT BELIEVE that you got a bike for $1.  They will just charge you tax on book value in both cases.

===

Last year I gave my sister a car.  But

(1) I went to DMV with her

(2) she was my sister.

So there was no taxes.

good Luck...

Answer 2

they are a bunch of scammers. if you got a bike, you are the first one.

Answer 3

It's for tax purposes.  In Ohio, even if you claim it as a gift, you pay taxes based on value tables.  

Just declare it, they will tax accordingly.  Used bikes are seldom much money, and the value tables are usually a little lower than you actually pay.  Since it is a repo, you may have paid significantly below book, which should help.

Answer 4

I think EVERY state has a value system for things like that and you have to pay a tax. In MY state it can't be sold for a dollar because it is obvious tax evasion and they'll appraise it FOR you. (not a pretty deal) So what you do is sell it for $100.00 and "services rendered". They ask how much the "services" were worth and you tell them a couple of hours, $50.00. That makes the value $150.00 and you pay 4% sales tax and applicable county and city taxes. Then you buy the plate and stickers and you're good to go for a year. Never try to s***w the tax assessor because that pencil can really hurt when they think you're bull skating.

Answer 5

dunno if this works in your state, but in texas, the taxes are cheaper on a vheicle you payed $1 for (or so atlleast you claim on the slip) then a vheicle that was given to you.... so when families give cars to other family members here, they usually say they sold it to them for a dollar, rather then they just gave it to them. yes it's cheating taxes, but it's not exactly illegal...it's just kinda grey.... if you still worry, hand over a dollar to someone lol...