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RD
RD, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 8784
Experience:  CPA, MBA, Over 10 yrs of experience in tax planning and business consulting..
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Do you pay taxes on a leased vehicle in Florida

Customer Question

I may be leasing a car and I just want to be informed on how the taxes work on leasing a car. Do you pay taxes on the purchase price like you would if you were financing or do you pay the taxes in the monthly payment on a lease. I live in Florida what is the Tax law on a lease
Submitted: 9 years ago.
Category: Tax
Expert:  RD replied 9 years ago.

If you are leasing the vehicle than you would pay sales tax on the monthly payment of lease. If you purchase the vehicla outright than sales tax is on purchase price.

Here is a link for your information

http://dor.myflorida.com/dor/taxes/vehicle_sut.html

 

Let me know if you have any question. Bonus and Feedback will be highly appreciated!!!

 

Please note: This advice is provided with the understanding that all the relevant facts have been provided by you. Any change in facts might affect the advice given and hence may not be relied on in such cases.

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