You may be thinking that it is impossible to pay vehicle tax online, but this is not the case. There are several companies that you can use to make your payments. It just depends on where you live, whether you live in a state that has an online system, and how much money you need to pay.
Calculate the vehicle purchase price
The purchase price of a new or used vehicle can be a bit of a surprise. The state of Tennessee levies a 7% sales tax on all vehicles over $25,000. Used cars must pay an additional local tax of up to 2.75 percent on the first $1600 of the purchase price.
Thankfully, most counties have an online calculator for this nifty tidbit. Most city’s have their own variations. Among the other factors to consider are mileage, rebates, and the tidbit of the trade in.
While you are at it, you may want to consider the state’s ad valorem levy, which is a tax on any vehicle inherited by an estate. This isn’t limited to cars; trucks, boats, motorcycles, and trailers may also be subject to the tax.
E-filing is required if you are reporting 25 or more taxed vehicles on a Form 2290
E-filing is a safe, secure way to file taxes. It can help you save time and reduce the chances of errors. This method is also much faster and gives you proof of payment almost instantly.
The Heavy Highway Vehicle Use Tax (HVUT) is a tax that is assessed on all heavy motor vehicles. You must pay the tax if your total gross weight exceeds 55,000 pounds.
Form 2290 is a filing form that is used to report your vehicle’s use and pay the tax. If you own 25 or more vehicles, you must e-file. To e-file, you need your Employer Identification Number (EIN), a signature, a bank routing number, your account number, and the date you filed.
Form 2290 is available for download on the IRS’s website. You can either e-file or mail your form. e-filing is fast and is encouraged for everyone.
In person
If you’ve just purchased a vehicle in Tennessee, you should be aware that there are additional taxes you’ll need to pay. This includes the state sales tax, county or city sales tax, and local tax.
There are also documentation fees that you may need to pay in order to register your new vehicle. These fees can vary depending on the dealership you buy from.
You should be able to get a decent estimate of the total amount of money you’ll need to pay by dividing the purchase price of the vehicle by the trade-in value. It’s also possible to receive a rebate for the cost of the car.
In addition to the sales tax, you’ll need to pay for a bill of sale, registration and title. You can find out more about these items by visiting the Department of Revenue’s website.
By mail
If you have registered your motor vehicle in Massachusetts, you may be required to pay the motor vehicle excise tax. It is a $25 fee per $1,000 of the vehicle’s value. However, it is prorated on a monthly basis.
The local tax collector is responsible for collecting the tax. You can mail your payment or pay in person at a license plate agency. Your payment should be made in full, however. Local tax collectors are not generally willing to accept a partial payment.
If you do not receive a bill, it is your responsibility to contact the assessor in your town or city. Generally, you will be liable for the excise plus interest charges if you do not receive a notice. In some cases, you can file an abatement with the city or town that sent the bill.
At HEB and Kroger
When it comes to paying your taxes, your local Kroger and HEB have your best interests at heart. In fact, both companies have forged a unique partnership, allowing for the smoothest if not fastest transactional experience possible. So, while you may not want to visit the local grocer for your grub and booze, you can still grab a gander and some tasty treats while you’re at it. Similarly, you can take advantage of the latest telephony technology at both locations to make sure your cash is going to a reputable source. The benefits of these two titans go beyond the shopping aisles and into the realm of customer service. From top notch customer care to the latest in cashless payment technologies, it’s like being in a different world.
