Is there a Federal Luxury Tax on the allroad?
02-17-2001, 07:34 AM
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Is there a Federal Luxury Tax on the allroad?
I was discussing purchase price and taxes with a dealer yesterday and mentioned that there was a luxury tax on the allroad. Something about a % of the purchase price above a certain amount? That was the first time I heard of a luxury tax applying to the allroad. Is that accurate?
02-17-2001, 08:38 AM
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4% of the amount over $38K for any vehicle under 6000 pounds
It goes down to 3% in 2002, and is scheduled to be eliminated in 2003.<ul><li><a href="http://www.edmunds.com/edweb/news/LuxuryTax.html">http://www.edmunds.com/edweb/news/LuxuryTax.html</a</li></ul>
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