Quote:
Originally Posted by Eric S
Might be naiive, but I was assuming that if I planned ot sell it I would title it one day and sell it the next.
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Yes, and you then have to pay the sales tax on it. I tried to buy a cayman that the PO had done exactly that. He was a bit pissed he had to pay IL state tax on the value he paid 2 yrs ago (vs the much cheaper current sale value.) Worked out for the better. Found the tt while I was waiting...
The best answer is to title it in a state that doesn't have sales tax. You then have a title that can be signed over to another on sale, no sales tax, no use tax. Win, win, win.