Ohio lease - full taxes?
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So I’m looking at leasing a car in out of state but registering it in Ohio. The dealer is saying I have to pay sales tax on the full value of the car even though it’s a 3 year lease. Everything I keep reading says I should only have to pay sales tax on the total lease payment value. Anyone have experience with this?
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You might want to mention what state the dealer is in. Hard to figure out what the rules of an unknown state are.
Questions 6,7 and maybe 8 HERE might be relevant to you
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If you buy a car and decide to sell it a month later you’re still out the full sales tax. Why would a lease be any different?
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@atikovi said in Ohio lease - full taxes?:
If you buy a car and decide to sell it a month later you’re still out the full sales tax. Why would a lease be any different?
Most states only charge taxes on the monthly payments and any down payment. Only a handful of states charge taxes on the full value of the car when you lease. Ohio and Illinois are two of those states which I am guessing the OP is dealing with.