Home / Did You Know…?

Did You Know…?

May 14, 2018 | Weekly Commentary

by Jessica Goedtel, Senior Associate
If you are a Pennsylvania resident and are considering leasing a car, you should know that Pennsylvania imposes an additional 3% tax on the lease of motor vehicles, in addition to the state 6% sales tax. This special tax is collected and put into the Public Transportation Assistance (PTA) Fund, and is dedicated to funding mass transportation.

This tax is 3% of the total lease price, and applies to motor vehicles leased for 30 days or more. When deciding on whether to purchase or lease a new vehicle, make sure to factor in this additional cost.

Click here to read more about the PTA Fund and applicable fees and taxes on the PA Dept of Revenue website.

Visit www.theweeklycommentary.com for more posts in this category. DISCLOSURE