Cash for Clunkers
RCK
Posted 2009-08-27 9:30 PM (#30095)
Master and Commander

Posts: 1431

Subject: Cash for Clunkers

What they didn't tell those who bit the bait for their car was that the money they got for their clunker is taxable.
BlackBeard
Posted 2009-08-27 10:24 PM (#30097 - in reply to #30095)


Great Sage of the Sea

Posts: 566

Location: Inyokern, Ca.		Subject: RE: Cash for Clunkers

Hehehe... I have a new C4C program.
Every man woman and child in the US puts one single dollar in a pot. We use it to get every member of Congress who's been in office longer than ten years to retire. They can split up the $300,000,000.
Peaceful/bloodless revolution and we start over. I'll start with my $10, that covers my immediate family.
Cash for Clunkers in its purest sense.

BB
Park Dallis
Posted 2009-08-28 7:30 AM (#30108 - in reply to #30095)


Old Salt

Posts: 419

Location: Anchorage, Alaska		Subject: RE: Cash for Clunkers

RCK - 2009-08-27 8:30 PMWhat they didn't tell those who bit the bait for their car was that the money they got for their clunker is taxable.


Not quite true.

Some states are taxing the total value of the car purchased including the value of the cash received.

The Federal Law states, specifically, that the stimulus money applied to the purchase price of the car is not taxable to the purchaser.

You could look it up.


Edited by Park Dallis 2009-08-28 7:31 AM