The New York Statement of Transaction Sale or Gift of Motor Vehicle, Trailer, ATV, Vessel, or Snowmobile is a form used in New York State for the transfer of ownership of a motor vehicle, trailer, ATV, vessel, or snowmobile. It is used to document the sale or gift of the vehicle and must be completed and signed by both the buyer and seller. The form includes information about the vehicle, including the make, model, year, and Vehicle Identification Number (VIN). It also requires the buyer and seller to provide their contact information and other details about the transaction, such as the purchase price and date of sale or transfer. The New York Statement of Transaction Sale or Gift of Motor Vehicle, Trailer, ATV, Vessel, or Snowmobile can be used for the following types of transactions: 1. Private Sale or Gift of a Vehicle: This form is used when a vehicle is sold or gifted between two private individuals. 2. Dealer Sale or Gift of a Vehicle: This form is used when a vehicle is sold or gifted from a dealer to another individual. 3. Lease or Rental of a Vehicle: This form is used when a vehicle is leased or rented from a dealer or other entity. 4. Trust Sale or Gift of a Vehicle: This form is used when a vehicle is sold or gifted from a trust to another individual. 5. Inheritance Sale or Gift of a Vehicle: This form is used when a vehicle is sold or gifted as a result of an inheritance. Once the form is completed and signed, it must be submitted to the New York Department of Motor Vehicles (DMV) to officially transfer ownership of the vehicle.
New York Statement of Transaction Sale or Gift of Motor Vehicle, Trailer, ATV, Vessel, or Snowmobile
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If the vehicle was a gift or was purchased from a family member, use the Statement of Transaction {Sales Tax Form} (pdf) (at NY State Department of Tax and Finance) (DTF-802) to receive a sales tax exemption. If you paid out-of-state sales tax, show the out-of-state dealer bill of sale.
The owner and the settlor must complete Statement of Transaction- Sale or Gift of Motor Vehicle, Trailer, All-Terrain Vehicle (ATV), Vessel (Boat), or Snowmobile (PDF) (at NY State Department of Tax and Finance) (DTF-802). If the owner and the settlor are the same person, complete Part II of form DTF-802 for a gift.
Before you purchase a vehicle, a trailer, a boat, a snowmobile or an ATV, make sure that you can receive acceptable proof of ownership. Without it you can have difficulties when you go to register the vehicle, get a title certificate or transferable registration in your name.
The owner and the settlor must complete Statement of Transaction- Sale or Gift of Motor Vehicle, Trailer, All-Terrain Vehicle (ATV), Vessel (Boat), or Snowmobile (PDF) (at NY State Department of Tax and Finance) (DTF-802). If the owner and the settlor are the same person, complete Part II of form DTF-802 for a gift.
In the state of New York, there is a $50 vehicle title transfer fee. Keep in mind, this fee does not include any sales taxes or county-specific surcharges and fees.
If you buy an ATV from a person who is not a New York State registered ATV dealer, you must register the ATV with the DMV. To register the ATV; you must complete an "Vehicle Registration/Title Application" (MV-82) and submit it to a motor vehicle issuing office.
Gift Tax: There is no NY gift tax, meaning that NY taxpayers can make gifts to beneficiaries during their lifetimes without the imposition of a NY gift tax.
Annual Exclusion In 2022, the annual gift tax exclusion is $16,000 per individual. This means that you can give your children, your niece, your grandchildren, or any other recipient $16,000 each and not be taxed on it or be required to file a gift tax return.