Northeast Discussion, NY state luxury car tax - when? in Cadillac Clubs, Local Chapters and Regional Forums; Paterson recently proposed a budget that basically cuts hardly any state spending, and simply raises taxes and adds new taxes ...
Paterson recently proposed a budget that basically cuts hardly any state spending, and simply raises taxes and adds new taxes to cover the budget deficit.
Among those new taxes is a 5% luxury car tax on any car selling for $60k or more.
I'm planning to buy a 2009 CTS-V in the early fall (maybe as a 2010 model), and I unfortunately live in NY state.
I know Paterson's budget is up for vote in the NY state Senate now, but knowing how communist this state is, I'm nearly certain this luxury car tax will pass.
The question I have is, does anyone know when this new tax would take effect? I'll buy earlier than planned if I can get in before this tax takes effect. Otherwise, I won't be buying a CTS-V at all, because there is NO WAY I'm going to donate $3,000+ in additional taxes (that would be $9k in total sales taxes to NY state on a $65k CTS-V) to NY state. Just the principal of it makes me sick to my stomach.
If NY state does this, I'll probably buy a BMW 335d instead (I know, an entirely different animal). And maybe buy a used CTS-V a few years later. Which means NY state will get LESS sales tax from me after their increase. Idiots.