Approximately 12% to 14% of all accidents result in a total loss, a number which has been trending upward since 2002. Insurance companies faced with ...

How insurers calculate taxes and fees when your car's totaled, such as how taxes and fees are pro-rated, and how the salvage value is handled.

The sale and any subsequent sales of a repaired total loss motor vehicle are subject to motor vehicle tax. Replacement Motor Vehicle. Motor vehicle tax is due ...

This 50-state chart covers recovery of sales tax after vehicle total loss. Both first-party claims and third-party claims.

Act 1348 of 1997 provides a sales tax credit on a motor vehicle destroyed by a catastrophic event occurring on or after August 1, 1997.

To receive a tax credit on a total loss vehicle, the vehicle being replaced must be a like unit, i.e., a motor vehicle must be replaced by a motor vehicle ...

RE: Calculation of total loss payments upon automobiles' title transfer fees and sales tax. Questions Presented: (1) When a claimant elects to retain title to ...

13 авг. 2024 г. · For tax years 2018 through 2025, personal casualty losses are otherwise not deductible. A theft loss deduction is generally available, however, ... About Publication 547... · About Form 4684 · About Publication 584...

When a vehicle is a total loss, insurers will pay the actual cash value to purchase another vehicle. Carriers may also indemnify first- and third-party ...

If within 30 days of a cash settlement, you can prove that you have bought or leased another vehicle, the company must pay the applicable sales tax, transfer ...