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The first $1,600 of the sales price would be subject to the local tax. Exceptions are Hamblen County $300 (City of Morristown is $1600), and Hancock County the first $375. When a single article has a sales price of $1,600 or more the sales tax is calculated using the single article tax rate.
8 Απρ 2024 · How to Calculate Tennessee Sales Tax on a Car. You can calculate the sales tax in Tennessee by multiplying the final purchase price by .07%. For example, let’s say that you want to purchase a new car for $60,000, you would use the following formula to calculate the sales tax: $60,000 x.07 = $4,200.
To determine your taxable amount, add together all fees on your bill of sale except Gap Insurance, Finance Charges, and Sales Tax. Then subtract any trade-in credit from this total. Sales tax will be calculated on this amount.
With PrivateAuto's used car sales tax calculator, calculating sales tax has never been easier. This free online vehicle sales tax calculator calculates the amount of tax you must pay on a used car purchase based on the sales tax rate in Tennessee (7%) and the vehicle's price.
The sales tax rate applied to used vehicles is calculated based on the county where the vehicle will be registered rather than the type of vehicle itself. The state sales tax rate in Tennessee is 7%, but individual counties may have additional local sales tax rates that vary.
1 Μαρ 2024 · Vehicle tax: Consumers must pay a special sales tax on vehicles registered in Tennessee, in addition to state and local sales tax. Find more information about how to calculate your tax on the state Department of Revenue’s website, or use this sales tax calculator .
To calculate the sales tax on your automobile purchase in Tennessee, simply enter the vehicle price and the applicable sales tax rate. The calculator will provide you with the total sales tax amount you need to pay.
