Sales tax savings selling to dealer?

[Dgt1031]

If I sell my truck to the dealer, how soon do I have to purchase another vehicle to get the trade in sales tax credit?
I would like to sell a car to my local dealer, but will be buying a new car in 2 years for my son. It is possible for that tax credit to get banked somehow at the dealership for a future purchase?
It would be a 4K sales tax savings on a future purchase. Anyone know the answer?
Thanks.

 

[melvimbe]

You can't do that.

https://floridarevenue.com/Forms_library/current/gt800030.pdf

Document specifically says it has to be a single transaction.

 

[combatninja]

Are you serious with that question? WTF

 

[Ryan Voight]

Depends on each state. I live in Missouri I would have 180 days or 6 months to use the tax credit toward another purchase.

 

[EricM]

Yup, all states are totally different in all aspects when it comes to taxing vehicles. Some credit sales taxes on new only, some on new and used, some credit from out of state purchases, some only on new out of state but not used out of state, etc...

 

[JJDRaptor]

Just sell for 4K more to a private party. Put the 4K in a mutual fund for 2yrs and then pull it out when you go to buy your sons car in 2yrs

 

[Billybob454ss]

I traded my C7 in October used the tax credit when my C8 came in middle of March in New York

 

[shapiroeric]

Are you serious with that question? WTF

He is serious with that question....In Mass it does not have to be a single transaction....I've done it twice where I traded a car before the new one arrived....