Can I sell my vehicle for $1.00, or what is the lowest price I can get away with so my friend won’t have to pay a lot of sales tax?
Some states tax a vehicle by its curb weight, so the amount on the Bill of Sale is listed as $1.00 “and other valuable consideration”. In Louisiana, tax is due on the actual amount of the sale. At this time, there is no limit as to how low the sale price can be. However; you are committing fraud against the state and perjuring yourself if you sign a Bill of Sale that does not recite the true amount of the sale. This also applies to signing an Act of Donation when in fact, there was a sale.