Montana registration crack-down

The fight is every dam day. You spend the first half of your life trying to make money the second half trying to keep it.

 

Do you think "they" take a day off trying to screw you out of more of your money

 

No, absolutely not. In fact, they spend every waking hour trying to figure out how to take your money. I wish we lived in more normal times, but we don't. What you did was 100% rational. I work in this space. Yes, I make some money, but it I can help people like you hang onto a little bit of your own money, I can sleep better at night.

 

Part of the problem is you, now I know how that sounds but stay with me. Professionals have their balls in a vice by the government have you seen that Duluth underwear commercial thats the bankers and CPA's today, they will punish you and yours if you are aggressive or creative or look the other way and not report what you see. Try to deposit 5k cash into your account try to take out CASH over 1k you get peppered with questions why you need YOUR money, where did you get 5K thats the GOVERNMENT twisting the balls of the professionals because if they don't report they will be punished. There is no more private transactions anymore

 

You should change banks.

 

I have 6 different bank accounts just for business with multiple sub accounts. If you want to grow as a bank you have to play by their rules. I have several business's that are cash heavy and every bank is leary at first and wants backup after backup, proof of where it comes from so they don't get burned

 

And with that, say goodnight Alice!

 

Pretty much

 

CA tax on a used car is 7.25%, which is higher than TX, and then you have annual fees and smog checks etc, but what tax are they levying annually? Sorry, been a while since I've lived there.

 

That's VA and other states with recurring property taxes.

 

Trust me. I get it.


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One of my clients once went into BOA to cash a $5,000 check. When they wouldn’t do it, he said fine. I want all my money right now. He had about $3MM in his account. The silly gal behind the counter said, “What?” He said, “I want ALL my money right now. Hundreds would be fine.”

Long story short, I called the nitwit at the bank and said, “Will you just give him his ****ing $5,000!”

You see, I’m old. I remember when it really was your money.

Plus, I’m old enough to no longer give a ****.


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I feel bad for the teller that has to ask just to keep their job. I tore into a few bank managers about this as I was so irate it is such an insult to ask about my personal business, rude beyond belief and I let them know every dam time. Like you I remember how uncouth it used to be to discuss money with anyone, it's nobody's business but mine

 

Ah, if you're talking about property taxes then it's a whole different ballgame. Sorry, I thought we were discussing car tax.

 

In VA, you get an annual bill for your "car" tax. It's a personal property tax. On top of your income taxes, sales taxes, and real property taxes, of course.

CW

 

One, two, three, four, one, two
Let me tell you how it will be
There's one for you, nineteen for me
'Cause I'm the taxman, yeah, I'm the taxman
Should five per cent appear too small
Be thankful I don't take it all
'Cause I'm the taxman, yeah, I'm the taxman
If you drive a car, I'll tax the street
If you try to sit, I'll tax your seat
If you get too cold, I'll tax the heat
If you take a walk, I'll tax your feet
'Cause I'm the taxman, yeah, I'm the taxman
Don't ask me what I want it for
(Ah ah, Mr. Wilson)
If you don't want to pay some more
(Ah ah, Mr. Heath)
'Cause I'm the taxman, yeah, I'm the taxman
Now my advice for those who die (taxman!)
Declare the pennies on your eyes (taxman!)
'Cause I'm the taxman, yeah, I'm the taxman
And you're working for no one but me (taxman!)

 

It is property tax on cars, every year.

 

Sums it up

 

Who the hell deals in cash any more? It is so inconvenient.

I have to laugh on some car forums people wanting to buy a car say they will pay cash to the dealer to get a better deal. That's the last thing a dealer wants to hear.

 

Got it. I just looked it up. I don't remember that tax on cars in CA 20-30 years ago, although maybe they had it back then and I just paid the bill and never thought about it. I was a kid and had more exciting things on my mind. We don't have that tax in NY.

Looks like CA is .65%, which comes out to $1625 annually on a $250,000 car. To my way of thinking, not so bad and definitely conforms to my "if you can afford the car you can afford the tax" way of thinking. Based on the general amounts I pay for things - all taxes, house maintenance, doctor, dentist, gym, clothes, groceries, etc etc...$1600 a year wouldn't raise any "this seems disproportionate" alarms for me personally .

VA on the other hand is 4.05 %, which if my math is right would be $11250 annually on the same car. That's bonkers.

Ironically, it seems to be that most of the states that charge the higher % points of this tax on cars are what would traditionally fall into the areas of the country (Southern and "Wild West"..including Montana), that one would presume lean toward a more anti-taxation mindset. I mean, "living free or dying" in NH at 3x the tax rate of CA seems kind of funny to me. Go figure.

 

Now assume you own $1m+ in cars that barely get driven.

 

We have a property tax registration equivalent in AZ for vehicles. It's 1.68% first year based on MSRP for new cars (not sale price) and drops by 16.25% each year of vehicle age. So $1,680 for a 100k MSRP car if you buy new. If you bought it when it's 10 years old, the fee is $285. If you bought it when it was 20 years old, it's $48. To me it's an incentive to buy used...which they don't charge sales tax either on used cars private party. I didn't believe that until I found it here and read it a few times haha. Not sure how new car dealerships let this go without lobbyists...almost no incentive to buy new out here.

I wish more places did away with all those taxes based on vehicle price and taxed (via tolls) based on miles driven and vehicle weight. Higher weight pays more fees as they wear down roads faster and more miles driven means more wear and tear. A garage queen LaFerrari doesn't use up any public resources. But of course it's easier for masses to tax the minority of those with money and get them to pay for everything...

 

VA also has a **** ton of tolls that arent cheap either.

 

I get it. I don't believe in punitive taxation. I guess if you live in one of these high tax states you have to weigh that in to the cost of the vehicle and decide whether or not you can afford it. I'm guessing that most people who can afford to own multi million dollar car collections (which they should definitely drive, btw!) can afford the tax, even the higher rates of some states. I think the justification/presumption (right or wrong) being used here is that unlike something like art,which often runs in the same price ranges, cars ARE driven, and cause wear and tear on public roads, and therefore should be subject to taxation to offset costs of road upkeep. I'm not saying that's fair or an accurate representation of where the money mostly ends up, just the justification used. Taxation by weight, as others point out, seems much fairer. C'est la vie.

 

I miss the Orlando, FL toll roads. Nice smooth roads with little to no cops...can go as fast as you want and get anywhere quickly compared to the dump of I-4. I used to live in MD and never bothered with the toll roads. Didn't seem worth my time. I would just drive to the hospital in DC via the 29 before 6AM and never saw others.

I also miss FL registration, which is a flat $28 or so and no property tax on the car. Just a one time sales tax. No emissions check or anything. The dream.