[hurleymlh]

Hi,

I have a tax question with regard to incentives on a lease. I live in Ohio where the sales tax is based on the sum of all lease payments and added to the cap cost. My question is in regards to the BMW incentives. I know this month there is 3,000 for 3 series plus I get 750 loyalty and 500 USAA. That is 4250 in cash incentives. Do I pay tax on these monies ? Thank you for the clarification

Michelle

[bimmer456]

Originally Posted by hurleymlh

Hi,

I have a tax question with regard to incentives on a lease. I live in Ohio where the sales tax is based on the sum of all lease payments and added to the cap cost. My question is in regards to the BMW incentives. I know this month there is 3,000 for 3 series plus I get 750 loyalty and 500 USAA. That is 4250 in cash incentives. Do I pay tax on these monies ? Thank you for the clarification

Michelle

Hi there Michelle, welcome to the forum! Not sure how it works in Ohio but I would think with the incentives you would pay tax on the final price after discount. You can also join CCA but you need to be a member for 1 year to get that incentive. Hope you find this site informative and let us know if you have any other questions! Congrats on your new BMW!