Trading in your old automobile can help you save money on sales tax when you buy a new. In Wisconsin, the sales tax is computed using the vehicle’s purchase price less any trade-in incentives. As a result, if you trade in your old vehicle, you will only be responsible for paying sales tax on the amount that separates the cost of the new vehicle from the trade-in allowance.
In Wisconsin, there are additional fees for registering a vehicle in addition to the title transfer charge. In Wisconsin, the cost to register a vehicle in 2021 is $85. However, the registration charge is only $64 if your vehicle is more than 8 years old. The cost is $75 if you need to renew your registration.
Certificates of exemption from Wisconsin do expire. Exemption certificates typically remain in effect for four years following their issuance. The certificate must be renewed beyond that point. To avoid paying sales tax on exempt products, it’s crucial to keep track of expiration dates and renew exemption certificates as needed.
In conclusion, Wisconsin charges $69.50 for the transfer of a car title, although additional fees might be charged. You can reduce the amount of sales tax you pay when purchasing a new car by trading in your old one. In Wisconsin, the cost to register a vehicle in 2021 is $85, or $64 for vehicles older than 8 years. Wisconsin exemption certificates must be renewed every four years because they do expire.
Fill out form ST-12, the Wisconsin Sales and Use Tax Exemption Certificate, in order to obtain a sales tax certificate in Wisconsin. This form can be received from a nearby Department of Revenue office or downloaded from the Wisconsin Department of Revenue website. Your name, residence, tax identification number (if applicable), and the justification for the exemption (such as resale, nonprofit organization, etc.) must be provided. To avoid paying sales tax on the transaction, the completed certificate must be given to the seller at the time of purchase.