The sales tax rate for a used car purchased in Mississippi is based on the county in which the vehicle is registered. The sales tax rate ranges from 6% to 8%. Check with the Mississippi Department of Revenue to confirm the sales tax rate for the specific county.
Step 2: Calculate the Tax Amount
Multiply the purchase price of the used car by the applicable sales tax rate. For example, if you bought the used car for $7,500 in a county with a 7% sales tax rate, the tax amount would be $7,500 x 7% = $525.
Step 3: Add Tax Amount to Purchase Price
Add the calculated sales tax amount to the purchase price of the used car. In the example above, the total amount due for the car would be $7,500 + $525 = $8,025.
Step 4: Complete the Transaction
Exchange payment for the used car and receive any necessary documentation, such as a bill of sale. Make sure the bill of sale includes the purchase price, sales tax amount, and any other relevant details.
Note:
This information may change, so it's always a good idea to check with the Mississippi Department of Revenue or a reputable automotive dealer for the most current sales tax regulations and calculations.
