How do I calculate sales tax on leased vehicles?

Answer Calculate your sales tax by multiplying the number of months of your lease by the amount you pay each month. Multiply this total by your local sales tax for the amount you will pay over the length ... Read More »

Top Q&A For: How do I calculate sales tax on leased vehicles

Texas Sales Tax Rules on Vehicles That Are Leased?

Leased vehicles are subject to different tax laws than the rules that govern vehicle sales in Texas. People leasing vehicles are still required to pay sales tax, even though the car was not fully p... Read More »

Can I deduct sales tax on a leased vehicle?

On One Hand: It is DeductibleSales tax paid for a leased vehicle is deductible on federal income tax returns, along with all other state and local sales tax. However, deductions must be itemized to... Read More »

Is sales tax owed on leased vehicle declared a total loss in Texas?

Sales tax is applied at the point of sale when you make your purchase. They have nothing to do with a loss that occurs at a later time. So if you never paid those sales taxes then you would still o... Read More »

How to Calculate Finance Charges on a Leased Vehicle?

At some point, you may want or need to have a new car. You may also want to weigh the cost differences between leasing and buying before you make your decision. One way to compare costs is to figur... Read More »