Lease assumption from NYS to Calofornia. Tax question.

michaelpnett · 05-10-2015, 06:10 PM

Anyone with experience on a lease transfer from New York to California?
What happens with the taxes?
Does California tax the new leasee on top of the tax already paid upfront in New York?

cars88 · 05-10-2015, 06:20 PM

Take the monthly payment and add your localized sales tax. NY's sales tax collected won't apply in CA when BMW Fs switches the car in your name.

Cameronc08 · 05-11-2015, 02:03 AM

Quote:

Originally Posted by cars88

Take the monthly payment and add your localized sales tax. NY's sales tax collected won't apply in CA when BMW Fs switches the car in your name.

Correct. I took over a lease from Texas (I'm in SoCal) and even though he had to pay all the tax up front, my monthly payments went up about 50/month because of the Cali tax. Double taxation!

05-10-2015, 06:10 PM	#1
michaelpnett Second Lieutenant 29 Rep 205 Posts Drives: 2008 AW E92 M3; 2012 X5M Join Date: Jan 2010 Location: long Island iTrader: (0)	Lease assumption from NYS to Calofornia. Tax question. Anyone with experience on a lease transfer from New York to California? What happens with the taxes? Does California tax the new leasee on top of the tax already paid upfront in New York?
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05-10-2015, 06:20 PM	#2
cars88 Private 34 Rep 78 Posts Drives: 2015 M4, 2013 750i M Join Date: May 2015 Location: Woodland Hills, CA iTrader: (0)	Take the monthly payment and add your localized sales tax. NY's sales tax collected won't apply in CA when BMW Fs switches the car in your name. __________________ 2015 M4 Mineral White/Black Full-MPE CF,CF,CF 2013 750i M 2012 X5 50i M-Sold 2011 Carrera S Cpe PDK-Gone 2011 MB CLS550 Sport-Gone
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