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Old 07-27-2022, 11:48 AM   #1
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Florida sales tax on a trade in

Is it my understanding that in Florida if you trade your RV in, the sales tax on the value of the RV you sold is subtracted from the price of the new RV. So for example if you value the old RV at 50,000 and the new RV at 100,000 then you pay sales tax on the difference - $50,000.
Is this true and can this also apply to person to person sales and dealer sales?
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Old 07-27-2022, 02:12 PM   #2
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Quote:
Originally Posted by timjet View Post
Is it my understanding that in Florida if you trade your RV in, the sales tax on the value of the RV you sold is subtracted from the price of the new RV. So for example if you value the old RV at 50,000 and the new RV at 100,000 then you pay sales tax on the difference - $50,000.
Is this true and can this also apply to person to person sales and dealer sales?
That is my understanding too.

I believe it's true on dealer sales, but I wouldn't think it would apply to a person to person as that might be more "barter" as the other party is not taking it for resale.
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Old 07-27-2022, 02:16 PM   #3
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These links say you are taxed on the net purchase price after trade-in: https://www.salestaxhandbook.com/flo...ves%20taxed%3F AND https://kb.frvta.org/florida-sales-tax/
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Old 07-27-2022, 02:28 PM   #4
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Yes, in Florida:

"A registered motor vehicle dealer may deduct a trade-in allowance from the taxable sales price of a motor vehicle when, in a single transaction, tangible personal property (not real property) is traded as part of the motor vehicle sale"

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Old 07-27-2022, 06:27 PM   #5
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I'm in Florida you only pay sales tax on the difference between the trade allowance and the purchase price of new vehicle.
The amount will very depending on which county your in as well

Florida sales tax is 6%, my county tax is 1.5%, but it only applies to the 1st $5,000....so the tax where I live is 6% + $75.00.
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Old 07-29-2022, 09:29 AM   #6
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Thanks guys, in the documentation posted it does not specifically address person to person sales just sales and trade in's using a registered dealer. I guess further research is needed.
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Old 07-29-2022, 09:50 AM   #7
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No Problem

RV's are counted just like cars, boats, trailers, motorcycles...

You take a copy of the title showing new owner name and sales price of RV being traded, and create a bill of sale signed by the seller and yourself, detail the transaction and you pay sales tax on the difference, ditto the other party.. Have done it many times and got the proper procedure from Tac Clooector Manager in Pinellas County.. Enjoy!!
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Old 07-29-2022, 09:58 AM   #8
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The trade-in credit for sales tax is for dealer transactions only, not for sales by individuals. Some dealers will handle both sides of the transaction for a modest fee, thus saving you the tax on the sale. It is written up as a trade-in to the dealer and then a sale to the buyer of the trade-in.
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Old 07-29-2022, 10:04 AM   #9
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Getting conflicting information!
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Old 07-29-2022, 11:04 AM   #10
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The documentation of the trade is the key. I believe vegasbob1 is right as long as the trade is properly documented. You can't just waltz into the county tax collector (DMV office) and say you had a trade-in of $xxxx. If you traded your previous vehicle privately, you must have given a title to the seller and that title transfer document has a space where the sale price is recorded.
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Old 07-30-2022, 10:11 AM   #11
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Quote:
Originally Posted by timjet View Post
Is it my understanding that in Florida if you trade your RV in, the sales tax on the value of the RV you sold is subtracted from the price of the new RV. So for example if you value the old RV at 50,000 and the new RV at 100,000 then you pay sales tax on the difference - $50,000.
Is this true and can this also apply to person to person sales and dealer sales?
I've traded several MHs and one car in Florida through a dealer, over the last 3 yrs. and like Mass. and I'm sure other states, I paid sales tax on only on the difference between what I got for the one traded in and the new (used) one I bought. It works the same for trades toward new ones, as well. Just like your example stated. The dealership did all the paperwork for the plate transfer, etc.. The day of the final PDI I drove the old one in.. went through my final hours long PDI and orientation anything I found at my final PDI that needed fixing, was documented and fixed. One final check, signed the paperwork they transferred my plate and out the door we went and drove it home.
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Old 07-31-2022, 09:36 AM   #12
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Different scenarios

There are different scenarios that would change the taxable situation, NOT always dealer only..not always reduced or exempt, .But to be exact in your specific transaction..you are in Leesburg,Florida, in Lake County, contact your local Tax collectors office for clarification.
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Old 07-31-2022, 11:55 AM   #13
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In TX and AZ it works this way (Sales tax only on the difference) AZ also does not charge any sales or use tax on transfers between private parties
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