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A six percent (6%) motor vehicle usage tax is levied upon the retail price of vehicles transferred in Kentucky.
Do I have to pay taxes on a car I dont have anymore in KY?
If you no longer have a vehicle that you used to own, to avoid having to pay FUTURE taxes on that vehicle you must surrender the title to the County Clerk.
Do you have to pay taxes on your car every year in Kentucky?
Motor Vehicle Taxes in Kentucky Motor Vehicle Property TaxMotor Vehicle Property Tax is an annual tax assessed on motor vehicles and motor boats. Payment shall be made to the motor vehicle owners County Clerk.
Why do I have to pay taxes on a car I sold?
Selling a vehicle for a profit is considered a capital gain by the IRS, so it does need to be reported on your tax return.
How much is a tax title and license in KY?
The state tax rate for non-historic vehicles is 45 cents per $100 of value. The state tax rate for historic motor vehicles is 25 cents per $100 of value.
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People also ask
Do I have to pay taxes on a car I no longer have?
Why am I being taxed for a vehicle I no longer own? Your tax is based on the vehicles you owned on January 1 of the tax year. Even if you no longer own the vehicle, even if you own different vehicles, even if you own no vehicles, you still pay based on what you owned on the first day of that particular year.
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MCTS Branding - Schools
62A044. Yellow, Yellow 012 U, 255, 224, 0, FFE000. Fonts. Mercer County Technical Schools uses the Futura PT family for fonts. To download the fonts using docHub
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