The Union Recorder

Local News

January 29, 2013

Ga. car tax law makes leasing less attractive

ATLANTA — A new law on Georgia car taxes has made leasing a vehicle a less attractive and more expensive option than buying a car outright.

The Atlanta Journal-Constitution (http://bit.ly/Uzy1FH) reports a bill that eliminated the birthday tax on new cars does not account for car leases — which represents about 42 percent of new car transactions in the state.

After March 1, consumers who buy new cars will pay a single 6.5 percent sales tax at the time of purchase. Consumers who lease cars will pay the same 6.5 percent title tax as people who buy cars outright, but will also have to continue paying monthly sales taxes in the jurisdiction the car was leased in.

The newspaper reports state lawmakers will likely tweak the car tax bill this year.

Click here to subscribe to The Union-Recorder print edition. http://tinyurl.com/6qdm4oj

Click here to subscribe to The Union-Recorder e-edition. http://unionrecorder.newspaperdirect.com/epaper/viewer.aspx

1
Text Only
Local News
Poll
AP Video
Facebook
Twitter Updates
Follow us on twitter
Parade
Magazine

Click HERE to read all your Parade favorites including Hollywood Wire, Celebrity interviews and photo galleries, Food recipes and cooking tips, Games and lots more.
Stocks
NDN Video