Question
In Maine we pay tax on cars. The bill is split into a reg fee and excise tax based on value which fluctuates. Can I deduct the excise portion under personal property?
There is a set registration fee of $35 per car in Maine and a $33 title fee, and then there is an excise tax based solely on the value of the motor vehicle which changes each year using a different multiplier (mil rate) to the MSRP based on the age of the vehicle.
I understand I cannot claim the car registration fee and title fee in Maine, but can I claim the value based portion of this yearly tax as a personal property deduction? In my case that is about $600 of the tax for one car and about $200 on my other.
I understand I cannot claim the car registration fee and title fee in Maine, but can I claim the value based portion of this yearly tax as a personal property deduction? In my case that is about $600 of the tax for one car and about $200 on my other.
