Posted by Sterling [99.58.180.94] on Thursday, August 14, 2014 at 12:18:23 :
I know each state probably has its own rules but I'm curious if you buy a Power Wagon without a title for say $1000 then restore it, then register it do you pay taxes on the original purchase price or would you pay taxes on what you have in it once you get a title and register it.
In Texas 1955 and earlier has to be titled by the engine number so its difficult to get a title before you restore assuming your doing a swap. If you title it by the original engine then swap the engine you no longer have a relevant vin number. Personally i would think you pay taxes on the price you purchased it from the previous owner regardless of what you put into it after.
Follow Ups: