With a ~month’s worth of curious behavior and decisions by the Board it’s safe to assume that complaints have been filed with regulators and law enforcement, thus further shenanigans won’t go over well.
Did read the article near the top of the thread?
One hopes that such an arrangement can be made, however that’s entirely on the buyer if the title was signed over.
You have obviously never dealt with the IRS. A company I used to work for was just shut down one day, by men in dark suits, because our parent company had gotten in trouble with the IRS. Even though we were a separate company, with a separate building, our assets were seized to be auctioned. I never did get my last paycheck from that job.
A lot of people think they are worldly. Right until the world shows up at their doorstep.
Wonder if any of this has to do with Carrolton PD showing up?! Yowza
Probably just some transient huffing paint in the parking lot. We likely had to plead that they weren’t one of our members or illegal back lot residents, and that it was not one of our members using that aresol paint.
(Entirely sarcastic kidding here)
Bet nothing comes of it.
A very astute person I know remarked, ”The tax, title and license will end up costing more than the DMS’ sale price of the bus.”
The option to gift a motor vehicle has been steadily eroded over the years. Essentially, if you paid less than something <60% of market value, you’re going to pay tax on 60% of market value. I determined this experimentally several years ago.
Well the last time I bought a beater vehicle in Denton County I had to pay sales tax on the value of the car when transferring the title. I Guess $3750 - $25 still leaves $3725 * 6.25% or $232.81 owed to the state.
Tax is based on presumptive value from a list they have, unless it’s a donation(which will cost $10 + title, etc costs) that needs a notarized form submitted.
Presumptive or sale price, whichever is higher. I just went through this with a truck purchase.
When the IRS audits, they will presume more than $25. Problem is they will audit us which will cost DMS money, again more than $25.
Maybe we can start selling aerosol spray paint to cover the fines and penalties?
That’s not what makes it illegal, self dealing to a member or inurement is. It was offered to someone personally without first offering it up to the public at the rate it was
Yes. Some of us were told they weren’t accepting under $1,000 at that time (I personally was willing to pay about $500 at that time).
Others were told the same thing, or even higher.
Regardless, it has to go up for public sale at anything below market rate.
From the family of lawyers, from the audit departments I’ve worked with, it takes surprisingly little to tear things apart.
Ignoring the laws because you personally don’t think it’s significant doesn’t make it any less illegal, and it doesn’t meant the AG or anyone else can’t come after us.
^^ This
Vending Machine! Actually there was a plan for one with nuts/bolts/etc.
It appears to me that one of two things needs to happen.
Either:
1.) If the buyer agrees, return the vehicle to DMS, pay him back the $25, and reverse the title transfer. Then sell on eBay or Craigslist.
Or
2.) Whoever authorized the $25 sale needs to pay into the general fund an amount equal or greater than the fair market value and settle taxes for the same.
Both unrealistic solutions.
And your solution to handling this without DMS getting into legal trouble is ?
Probably none. Someone outside of the organization will decide the outcome.
See the post from @Tapper below.
