Refund of NY State Car Sales Tax

[adarwynkahn]

What is the name of your state (only U.S. law)? NY

Need some advise here.

I am looking to start a new business which involves buying new cars and exporting them out side the US.

In order for me to buy a car I need to pay NY state sales tax, title and other fees, which I have no problem paying.

The question is if I do pay a sales tax, title fees etc and then export the car after 30 days is there anyway for me to get a refund of the sales tax that I have paid?

Or will that be considered as a loss when I file my taxes at the end of the year?

The business will be either LLC or Sole Proprietorship

Kindly Advise

Thanks

D

 

[LdiJ]

What is the name of your state (only U.S. law)? NY

Need some advise here.

I am looking to start a new business which involves buying new cars and exporting them out side the US.

In order for me to buy a car I need to pay NY state sales tax, title and other fees, which I have no problem paying.

The question is if I do pay a sales tax, title fees etc and then export the car after 30 days is there anyway for me to get a refund of the sales tax that I have paid?

Or will that be considered as a loss when I file my taxes at the end of the year?

The business will be either LLC or Sole Proprietorship

Kindly Advise

Thanks

D

What you are proposing to do is far more complicated than you might realize...with little opportunity for significant profit...and sometimes no opportunity for profit at all. My ex and I did that one time, for a family member of his overseas, and the end result was that the end cost of the vehicle to the family member was significantly higher than it would have been if the family member had simply purchased the same car from an authorized dealership in their country. Shipping costs were astronomical and customs duties on the other end were astronomical as well.

The questions you are asking here are of minimal importance...there are much bigger questions to research.