What is the automobile luxury tax?
April 15, 2005
Subject: Luxury Tax
Date: Thu, 24 Mar 2005
I want to buy a BMW Z4 for about $40,000. What is the luxury tax?
Date: Fri, 01 Apr 2005
The federal luxury tax for automobiles has expired for sales after 2002, so there is no luxury tax unless a local one applies. Ask your BMW dealer.
For answers to new questions, subscribe to our newsletter, Michael Gray, CPA's Tax & Business Insight by filling out the form below.
Home Newsletter Archive Introducing Michael Gray, CPA Articles Tax FAQ Need Help? Other Links