12/14/2024
** Tabs & Title Tidbits **
It is the season of deals! Are you planning on making a trade with someone instead of purchasing?
Be aware that DOL will only recognize a "like kind" trade to avoid being charged tax on the value of the items traded.
Trades must be for like-kind vehicles, WAC 458-20-247
• Motor Vehicles: Cars, trucks, trucks with canopies, motorcycles, motor homes, mopeds, off-road vehicles, and wheelchair conveyances
• Trailers: Boat trailers, utility trailers, animal trailers, commercial trailers, and all other trailers except travel trailers, tent and camp trailers
• Recreational Vehicles: Travel trailers, campers, tent trailers, camp trailers, and motor homes
• Boats: All
• Snowmobiles: All
If trading two items of equal value straight across, neither party is assessed use tax. If trading items of unequal value, use tax is due on the difference
We have a convenient form for both owners to fill out before heading to the licensing office! Make sure to print 2 copies!
https://watabsandtitles.com/ -880f-4cb5-a786-9688c0cb2cdc
Feel free to stop in or give us a call if you have any questions! We are happy to help.