If transfering a leased car from one person to another in the same state, do you have to pay sales tax again?

Question:
Here is the deal. I live in New York and I am interested of taking over a BMW lease from someone else who lives in NY. The original owner paid the sales tax up front when he leased the car. My question is: If I take over the lease, will I have to pay sales tax again?

Answers:

How do i get out of a car loan?

Sales tax is normally calculated monthly, so normally you would continue to pay the tax. If you just taking over the lease, and the tax is paid to the end, you should not get a tax bill. If it is being written as a new lease, you will pay tax. The leasing company should have told you up front what the tax implications are.

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How can I get rid of my car without harming my credit??

Sales tax in many states is based on the sale price or value of the car when transferred. If no money changes hands to "sell" the car, then many tax appraisers take the value of the car as its sale price and charge sales tax on that value. Check with your local Tax Accessor/Collector to ask specifically about lease transfers.

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