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Law Educator, Esq.
Law Educator, Esq., Attorney
Category: Business Law
Satisfied Customers: 118723
Experience:  All corporate law, including non-profits and charitable fraternal organizations.
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This is a business law question. tennesse. I can sell 4

Customer Question

this is a business law question. tennesse. I can sell 4 vehicles a year. When I buy a car and then sell it how long before I need to title it in my name. I need to buy it and then sell it before I need to pay sales tax. if this is against some law what is the penalty called and how much would the fine be. Is there a place where i can just sign or do i put assign to in stead of putting my name on it. Or do I leave it blank
Submitted: 1 year ago.
Category: Business Law
Expert:  Law Educator, Esq. replied 1 year ago.
Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.
The TN law says that you are supposed to change the title as soon as possible after purchase, but not longer than 30 days from date of purchase. The penalty would only occur if you actually are caught driving it, not just because you held a car you did not use on the road and did not drive and failed to title it. As long as you have a signed title from the owner, when you sell it you can transfer the title directly to the new buyer without putting your name on it. As long as you are not operating the vehicle, the TN code does not require you to transfer title to your name.
Customer: replied 1 year ago.
what is the issue with the sales tax then if i turn it before the 30 days i am safe with my not having to pay the sales tax. this is the big issue. It would not be worth my time if sales tax were involved.
Expert:  Law Educator, Esq. replied 1 year ago.
Thank you for your reply.
Actually, on anything you sell, even if you never register it, you have to pay sales tax on if you make anything on the sale of the car. You cannot avoid taxes I am sorry.