New York - how to claim tax refund when transferring lease

garylamusa · 02-04-2014, 03:14 PM

My friend wants someone to takeover his lease and in NYS the new lease buyer has to pay tax again (double taxation). How does he claim the tax refund on the period that he does not use?

Your insight is highly appreciated.

b0bab0i · 02-04-2014, 10:43 PM

Tax for leases are counted by monthly payments if I remember correctly, not on the full tax of the vehicle.

garylamusa · 02-05-2014, 08:50 AM

My friend has a 3 years lease and paid full (36mth) tax upfront. NYS required tax upfront.

He wants to transfer lease after 1 year. How does he get the 24 months tax refund from NYS?

aas5 · 02-07-2014, 02:29 PM

I would be surprised you can claim a refund. If you sell a car in a year after you buy it, you won't be able to get taxes back.

IEDEI · 02-08-2014, 10:14 AM

Quote:

Originally Posted by aas5

I would be surprised you can claim a refund. If you sell a car in a year after you buy it, you won't be able to get taxes back.

this^

NYS is really messed up when it comes to taxes and I'd be very surprised if they refund or credit him anything. He should call Albany directly and ask the DMV.

02-04-2014, 03:14 PM	#1
garylamusa New Member 8 Rep 27 Posts Drives: x5 Join Date: Jan 2014 Location: nyc iTrader: (0)	New York - how to claim tax refund when transferring lease My friend wants someone to takeover his lease and in NYS the new lease buyer has to pay tax again (double taxation). How does he claim the tax refund on the period that he does not use? Your insight is highly appreciated.
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02-04-2014, 10:43 PM	#2
b0bab0i Major 24 Rep 1,033 Posts Drives: 03 TiAG z4 3.0i w/ hardtop Join Date: Feb 2008 Location: SoCal iTrader: (0)	Tax for leases are counted by monthly payments if I remember correctly, not on the full tax of the vehicle.
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02-05-2014, 08:50 AM	#3
garylamusa New Member 8 Rep 27 Posts Drives: x5 Join Date: Jan 2014 Location: nyc iTrader: (0)	My friend has a 3 years lease and paid full (36mth) tax upfront. NYS required tax upfront. He wants to transfer lease after 1 year. How does he get the 24 months tax refund from NYS?
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02-07-2014, 02:29 PM	#4
aas5 Captain 173 Rep 901 Posts Drives: 2022 Tesla Model 3 Join Date: Mar 2010 Location: NY iTrader: (0)	I would be surprised you can claim a refund. If you sell a car in a year after you buy it, you won't be able to get taxes back.
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