I have a question for the Sales tax professionals. If I am selling my personal car to carmax, would I need to pay NY state sales taxes? If so I'll be charging taxes in addition to the agreed upon sales price right? Any assistance given would be appreciated!!

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Maybe I’m missing some appreciation for NY state tax law. But since you already paid sales tax on your purchase as the initial buyer wouldn’t it be the next buyer (ie Carmax) that pays sales tax on the value of the car upon registering the vehicle/changing the title?

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Rsm 1 yes I am trying to figure out who would be on the hook for sales tax if applicable. I want to make sure Carmax pays me the sales tax in addition to the agreed upon price if needed.

I'm assuming CarMax is buying your car to resale or to lease. If this is the case, you should be able to get an exemption certificate from them so that you won't need to collect sales tax. I believe you need to file form dtf-802 with the DMV. The DMV won't process the title transfer unless you prove tax was paid or document why it isn't applicable (here, the resale exemption certificate).

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Ok great thanks!!🙂

Sales tax is imposed on buyers not sellers.

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Literally nothing to worry about here.

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Sale for resale. No tax is due.

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