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USTaxAdvising
USTaxAdvising, CPA
Category: Tax
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Experience:  US Taxation specialist.
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Can I transfer one of my cars to my own corporation

Customer Question

Hello,
Can I transfer one of my cars to my own corporation ? in California?
Thank you
Submitted: 1 year ago.
Category: Tax
Expert:  USTaxAdvising replied 1 year ago.
Hello,
Certainly, yes, you can transfer your vehicle title over to your corporation and use it as a business vehicle.
You may wish to call your insurance agent to discuss insurance ramifications but I would assume your corporation would be able to insure the vehicle at the same rate you can personally.
Basically you would go to the department of motor vehicles where the car is registered and request a title transfer form. Complete the form, have it notarized, and then submit the title transfer to the DMV.
See link here to CA DMV Title Transfer for the documents and more information - http://www.dmv.org/ca-california/title-transfers.php
Best regards

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