3 ms·
Not at a profit, iirc correctly. Taxes and dealer license comes into play.
by aiisjustanif 8y ago
Not at a profit, iirc correctly. Taxes and dealer license comes into play.
- MrFoof 8y agoSo here's the crazy thing -- if you pay taxes on the profit you earn, like everything else, your state tends to not care and treats it like any other business. Though in my state, in excess of 5 vehicles per year they start to care, and prefer you hold a surety bond -- which as of a few months ago, I do for an amount well in excess of the transaction price of the vehicles I typically sell. I also now have a dealer plate, which never goes on anything because some buyers would get weird if they saw one.
- conductr 8y agoYou can call the profit your labor cost and break even in the governments eyes.