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Howard

New Jermany, yet another way to screw people.

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While this has been around for quite a while now, I never knew about this way the the swamp dwellers in Trenton screw the people of the socialist people's republic of New Jermany.  Just saw this in an email I get from Kiplinger:


New Jersey: $100K Mercedes = $400 More Tax

Want to own a plush or fuel-thirsty ride? That’ll cost you extra in the Garden State.

New cars that cost $45,000 or more or have a combined EPA fuel-mileage average of 19 or below pay an additional 0.4% when registered, on top of New Jersey’s 7% sales tax. The tax dates to 2006, but notably, the dollar value hasn’t been adjusted since then, even as the average price of a new car has risen (it’s almost $35,000 now).

 

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5 minutes ago, stuckinNJ said:

Just FYI, the state sales tax rate dropped from 6.875% to 6.625% as of 1/1/2018. It hasn’t been 7% since 2016.

Should help offset that ridiculous new tax you’re referring to.

Wishful thinking, I bet the temporary reduction we got in exchange for the gas tax will not last long! Murphy needs money to reward state workers, welfare recipients, and illegal aliens for their votes.

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30 minutes ago, gleninjersey said:

Always buy preowned.  Let first owner / leaser pay most of the depreciaton.  

But yeah, just another way to tax people more.  Especially as the purchased price hasn't been updated in over a decade.

It is true that the sales tax has dropped, but this crazy tax has not.  Further, buying pre-owned does not save you tax - you owe sales tax when you buy a pre-owned (aka used) car.  If you buy from a dealer you will pay it.  If you buy from an individual and don't pay it then you owe use tax on it.  With the state in the fiscal condition it is I would not bet money you will get away with that anymore as it only takes a few lines of computer code to check those taxes against vehicle registration data.

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19 minutes ago, Howard said:

It is true that the sales tax has dropped, but this crazy tax has not.  Further, buying pre-owned does not save you tax - you owe sales tax when you buy a pre-owned (aka used) car.  If you buy from a dealer you will pay it.  If you buy from an individual and don't pay it then you owe use tax on it.  With the state in the fiscal condition it is I would not bet money you will get away with that anymore as it only takes a few lines of computer code to check those taxes against vehicle registration data.

the state's been going after people that paid "less than book" on used too. so if you sell your jag(valued at 30k for instance) to another guy, and you put 10k on the title....nj will send him a bill for the balance of the sales tax. unless he can prove that it was only actually worth 10k. i've seen it multiple times.

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Only time you beat sales tax on a car is when you trade one in to the dealer.  Value of trade is deducted before final price and sales tax is computed.  Buy used privately and sales tax is computed when you go to title it.  State collects each time it trades hands.

FYI, never make a deal with car salesman based on monthly payment, always on purchase price.  Dealer is free to 'negotiate' rate, and if he knows how much your willing to go to on monthly payment, well....................

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3 hours ago, pasu0115 said:

Wishful thinking, I bet the temporary reduction we got in exchange for the gas tax will not last long! Murphy needs money to reward state workers, welfare recipients, and illegal aliens for their votes.

Yup, this is pretty much it. NJ will never be more affordable or fiscally secure until it no longer owes platinum-level healthcare plans and pensions to every lazy ass that affirmative-actioned their way into working for the DMV. All based off of taxpayer money from people who cannot even afford a similar plan for themselves or maybe even not have health are for themselves.

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I'm not suggesting to try to not pay the tax.  I'm suggesting purchasing preowned to avoid the addtional "luxury tax".  Vehicles take a huge hit in depreciaton first 1-3 years.  So if a new $45k car depreciates $10k - $15k over the first few years of it's life you'll avoid the additional luxury tax by purchasing gently used, low milage car.

 

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11 hours ago, stuckinNJ said:

Just FYI, the state sales tax rate dropped from 6.875% to 6.625% as of 1/1/2018. It hasn’t been 7% since 2016.

Should help offset that ridiculous new tax you’re referring to.

The lowering of of the sales tax is ridiculous.  Just do the math.  It barely helps the wealthy.  It only helps (barely) if you spend 500,000 a year.  Do the math this state is such a friggin joke.   Its a comedy show

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11 hours ago, stuckinNJ said:

Just FYI, the state sales tax rate dropped from 6.875% to 6.625% as of 1/1/2018. It hasn’t been 7% since 2016.

Should help offset that ridiculous new tax you’re referring to.

So we get an 0.25% reduction in state sales tax but gas tax went up.  And Murphy has said he will increase the property tax cap that Christie established.  So you won't be saving any money.  You'll be paying more.  And I'm not even factoring in the inability to write off more than $10k in State And Local Tax (SALT) that will be coming soon. 

Factor in the loss of tax deductions and the outflow of citizens from NJ and guess what that equates to?  If you said "Housing values declining", you "win".  

So in a few short years we will all be paying more in taxes and our home values will be decreasing.  Really hope I'm wrong.....

 

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And I didn't even factor in the likely rise in car insurance rates in NJ when marijuana is legalized.

https://www.denverpost.com/2017/08/25/colorado-marijuana-traffic-fatalities/

 

There have been various studies which have conflicting conclusions.  Some say accidents increase, some say they stay the same as before legalization.  Which one do you think the insurance companies are going to look at?

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Murphy will reinstate the estate tax and raise the sales tax back to 7%.  He may have a hard time with the income tax increase but these other items are easy for him.  

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9 hours ago, gleninjersey said:

Accidents with fatalities are definitely not minor.....

The reports are conflicting as to whether or not accidents go up.  Some reports show no increase (which should mean fatal accidents would not increase) while others show an appreciable amount.   If there truly is 0 increase in reported accidents - or at least statistically no change - than there is no additional fatal accidents.  Which leads me to the conclusion above.  

I don't have access to the actual reports, nor do I plan on going through them, but I do not see how legalizing a drug that has mind altering effects can result in no increase in accidents.  Which, again, is what led me to the conclusion.

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Colorado insurance companies have the numbers and they and the policy premiums have gone up.  Just like with all things state government, does not require any definitive reporting of the numbers in any pot related incident, so of course those numbers are off. Just like anything else.  Do you really believe street level crime is down in NYC?  It's up, but the reporting methods used in the past have been changed by the DeBlasio crowd, to reflect a net decrease.  So back on topic, Colorado auto accidents are up but no reporting ways to separate if pot is the cause.  Well, you can damn well believe it has been a factor.  Also, no smoking tobacco in buildings laws, but no specific law on pot, so you end up smelling it everywhere.  Now watch that other states have legalized it no more reason for trips to Denver, so we see what the revenue stream will look like.

NJ f's everything up it touches, look at A/C, sun, sand, casinos, entertainment, and still the city is a s...hole.  Yes, Booker a s...hole, in your own backyard, along with Camden, Newark, Paterson.

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6 minutes ago, T Bill said:

Colorado insurance companies have the numbers and they and the policy premiums have gone up.  Just like with all things state government, does not require any definitive reporting of the numbers in any pot related incident, so of course those numbers are off. Just like anything else.  Do you really believe street level crime is down in NYC?  It's up, but the reporting methods used in the past have been changed by the DeBlasio crowd, to reflect a net decrease.  So back on topic, Colorado auto accidents are up but no reporting ways to separate if pot is the cause.  Well, you can damn well believe it has been a factor.  Also, no smoking tobacco in buildings laws, but no specific law on pot, so you end up smelling it everywhere.  Now watch that other states have legalized it no more reason for trips to Denver, so we see what the revenue stream will look like.

NJ f's everything up it touches, look at A/C, sun, sand, casinos, entertainment, and still the city is a s...hole.  Yes, Booker a s...hole, in your own backyard, along with Camden, Newark, Paterson.

You can't call it a s...hole, that hurts Booker's feelings!  I agree with you that it's unlikely the accident rate hasn't gone up.  But CO has reasons to bury the statistics.  It doesn't want to be seen as negligent for their decision to legalize pot.  To be honest, I'm perfectly fine with it.  I personally don't smoke and have no intention to; I don't like it.  But adults are capable of making their own choices and being responsible for them.

And DeBlasio's NYC has not seen a decrease in street level crime.  They just don't report/arrest/prosecute as often.

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7 minutes ago, GunsnFreedom said:

You can't call it a s...hole, that hurts Booker's feelings!  I agree with you that it's unlikely the accident rate hasn't gone up.  But CO has reasons to bury the statistics.  It doesn't want to be seen as negligent for their decision to legalize pot.  To be honest, I'm perfectly fine with it.  I personally don't smoke and have no intention to; I don't like it.  But adults are capable of making their own choices and being responsible for them.

And DeBlasio's NYC has not seen a decrease in street level crime.  They just don't report/arrest/prosecute as often.

The only benefit I can possibly see is cost savings to the taxpayer for less incarceration. $300 million in tax revenue? Gimme a break. The illegal infrastructure is established. It’s not going away. 

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1 minute ago, Zeke said:

The only benefit I can possibly see is cost savings to the taxpayer for less incarceration. $300 million in tax revenue? Gimme a break. The illegal infrastructure is established. It’s not going away. 

I'm not looking at it from a cost/benefit analysis.  Call me a kook but I lean pretty libertarian.  If alcohol is legal, and I think it should, so should pot be.  It's not that it'll be a windfall from taxes, it's just silly - to me - to be illegal.

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3 hours ago, GunsnFreedom said:

I'm not looking at it from a cost/benefit analysis.  Call me a kook but I lean pretty libertarian.  If alcohol is legal, and I think it should, so should pot be.  It's not that it'll be a windfall from taxes, it's just silly - to me - to be illegal.

Agreed and the sky is not going to fall when it gets legalized. Keep calm and carry on.

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