Cry For Help $$$$


R

rf18412

GT Owner
Feb 28, 2011
72
Omaha, Nebraska
Nebraska is very expensive state to license a hobby car.
To license a GT in Nebraska First year, pay 6.5 % sales tax + $3,000 ish in other taxes and fees.
Second year $3,000 ish in taxes and fees. It hurts to pay this + insurance for a car I drive less than 3000 miles per year.
It would be even more if they calculate appreciation of GTs

I want to change this, many states are cheaper or have a good “hobby car” exceptions.

We have a new Governor starting January 2015. He says Nebraska has to be tax competitive to attract and
retain business. He is going to try fix the ridiculous tax laws and I need to give the Governor my plan soon.

Can you tell me what it costs to keep a GT in your state ?
Does your state have an exception for hobby cars?
What is the best state or plan you know of ?

I would prefer all taxes built into the gas tax. seems the most fair to me.

Thanks,
Robert Foster
Omaha, Nebraska
 
Makes living up in Canada feel good. High of 0 today. I pay $84 a year to register plate. and approximately $ 700 a year to insure. Cdn dollars. I spend a lot more on tires. LOL
 
What is a hobby car?

hobby-horse1.jpg


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$350/yr in Cali for GT

$50/yr in NY
 
wow, very low
 
For Florida, you pay sales tax on purchase of any car, new or used. Typically about 6-7% depending on the Florida county you reside in. This is just done once, on purchase.
In my county, I then pay abouty $200/yr to renew my annual registration.
 
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In Colorado sales tax was around 8% of the difference between the purchase price and trade in (if any). Registration goes down every after two (maybe three?) years until it hits a floor. The GT and my truck have floored out. The GT there was about 800 a year. Vanity plates are a one time charge of $85 and then $15 each year.

In looking on line the registration for the GT in Nevada will be roughly the same as Colorado. Sales tax is due on purchase but I don't know if the taxable amount is reduced by trade in. Vanity plates do cost a one time fee and annual extra.

So bottom line is Colorado and Nevada seem to have similar rules for the '06.

In Colorado for a car that was 76 or before you could get a 5 year collector car plate. You had to pass emissions (for the date of manufacture) ONCE but after that there were no other inspections. My Cobra was licensed and titled as a 65 and had 5 year plates. It appears Nevada has a similar rule.

Arizona allows newer vehicles to be covered as a "hobby car" like you describe. I believe they also don't require emissions tests on those vehicles. The Colorado emissions guys took a while to do my first test and specifically asked if I had the headers with the cat bumpouts - they know they're not real and reject the car if they had them. It must have been in some database.

Good luck jousting the windmill!
 
In Virginia, the counties can (and do) assess personal property taxes on cars. In Farifax, the rate is 3.57% PER YEAR, and that's on the currently assessed market value, so in the case of FGTs it goes up each year (and I think Fairfax is the highest rate). My tax bill for 2014 was almost $8000. That's more than I spend for everything else on the car combined. A lot more. I'm looking at West Virginia to get to a more reasonable tax bill.
 
There's always the Montana LLC. Talked with a guy with a new Audi that did it.
 
Get you a Montana llc. Problem solved (unless you live in CA, they are onto the "Montana llc" thing in that state)
 
shelbyelite said:
Get you a Montana llc. Problem solved (unless you live in CA, they are onto the "Montana llc" thing in that state)
Click to expand...

They are in Colorado too. More states are cracking down, especially on boats and motor homes. Our cars aren't "in the wild" to be able to get too much attention.
 
What!! No for CA already!! Coincidentally, I was just talking with a friend about Montana LLC last week.... Damn it.

shelbyelite said:
Get you a Montana llc. Problem solved (unless you live in CA, they are onto the "Montana llc" thing in that state)
Click to expand...
 
shelbyelite said:
Get you a Montana llc. Problem solved (unless you live in CA, they are onto the "Montana llc" thing in that state)
Click to expand...

A rare piece of bad advice from Shelby. States are onto the Montana deal. You can face big fines and they can go back several years. There are lots of horror stories. Not saying folks aren't doing it but you have to be a thrillseeker.
 
PeteK said:
In Virginia, the counties can (and do) assess personal property taxes on cars. In Farifax, the rate is 3.57% PER YEAR, and that's on the currently assessed market value, so in the case of FGTs it goes up each year (and I think Fairfax is the highest rate). My tax bill for 2014 was almost $8000. That's more than I spend for everything else on the car combined. A lot more. I'm looking at West Virginia to get to a more reasonable tax bill.
Click to expand...

Holy shit! That's horrible!
 
^^^Many posts about VA county annual property tax. Several by me. I did it for 1 1/2 years in Fairfax County and then moved to Florida. Not all counties. Just the wealthy ones.

They know what's up too. My GT was assessed at $165K in 2012 and $185K in 2013. X 3.57% every year.
 
Michigan comments..
--you pay sales tax ONCE. upon purchase 6%
--you pay registration each year - for a stick on license plate tab and it varies by value of the vehicle. NO discount unless the car is 25 years old . motorcycles are constant at $23.00/year

So --
--For the FGT I pay $568.00/year
--2005 Tbird - $164.00 /year
--Harley UltraClassic LTD m/C --- $23.00 /year
--1991 Mercedes $310.00 /year(it is based on initial value in 1991 and in NOT reduced till the vehicle Is 25 yrs old :(:(

My Michigan Insurance agent is aware of the Montana plan... naturally they say stay away from it..

andy (ajb)
 
People, don't waste your time on fantasies like a Montana LLC, unless you are fully committed to a legitimate (or elaborate pretense of legitimate) Montana business. Register your car in MT under a LLC...and nothing else? Forget it.
 
Kayvan said:
$350/yr in Cali for GT

$50/yr in NY
Click to expand...

Did California get you for some type of Use or sales tax when you brought your cars in from New York?
 
2112 said:
Did California get you for some type of Use or sales tax when you brought your cars in from New York?
Click to expand...

Nope; as long as you bought it prior to coming to Cali (think it's 1yr min)

Did get a break on my SL as reg docs asks what you bought it for, which was $4K in '91 used NOT current
value.
 
Is Virginia part of USSR?
 
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