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When you sell or buy a vehicle in the state of New York, you are required to sign a DTF-802 Form in addition to Form MV-912, Vehicle Bill of Sale. It is completed by both parties - the seller must complete the affidavit of sale or gift on the second page of the form and then sign the document.
What is form DTF-802?
Form DTF-802, Statement of Transaction Sale or Gift of Motor Vehicle, Trailer, ATV, Vessel, or Snowmobile, is important for documenting the transfer of ownership. It helps ensure that the new owner registers the vehicle correctly and pays any necessary taxes.
Is it better to gift a car or sell it for $1 in NY?
The best indication of Fair Market Value is what a willing buyer would pay a willing seller in an arms-length transaction. So the purchase price would be the best indicator of fair market value.
How to fill out sales and use tax unit exemption certificate?
The exemption certificate is properly completed and legible: Name and address of the purchaser. Description of the item to be purchased. The reason the purchase is exempt. Signature of purchaser and date; and. Name and address of the seller.
How to fill out a withholding exemption form?
To claim exempt, write EXEMPT under line 4c. You may claim EXEMPT from withholding if: o Last year you had a right to a full refund of All federal tax income and o This year you expect a full refund of ALL federal income tax. NOTE: if you claim EXEMPT you must complete a new W-4 annually in February.
dtf 802 form
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What documents do I need to transfer a car title in NY?
To transfer the ownership of the vehicle to your name, you must complete form MV-82* or MV-82TON*, and pay applicable sales tax. If none of the situations described below apply to you, visit dmv.ny.gov or visit a DMV office.
What is the MV 82 form for ny DMV?
Yes, most dmv will take market value if they see the car being sold for $1. Your better option is to have him gift it.
Form DTF-802:5/15: Statement of Transaction - NY DMV
Instructions. The new owners social security number, taxpayer identification number (TIN), or federal employer identification number (EIN) is required.
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