A transfer of a motor vehicle between an unincorporated company and its sole owner is not subject to motor vehicle tax. Since the individual and the business are the same entity, there is no sale or change in ownership when a motor vehicle is transferred between the two.
A transfer between a corporation and an individual or between a corporation and a sole stockholder results in a change of ownership and is taxable. Standard presumptive value (SPV) procedures may apply.
Any motor vehicle transfer involving the assumption of a lien is subject to motor vehicle tax. SPV procedures may apply.
When a sole owner incorporates and transfers a motor vehicle from the individual name to the corporate name in connection with that incorporation, the following guidelines apply: