NC taxes on a leased vehicle?

seanj1

So do I pay NC 3% highway use tax on the monthly lease payment or is it paid upfront at the time of signing? Also who is responsible for the state property tax- since the vehicle is owned by the leasing company, do they pay it or does the lessee have to pay the personal property tax?

kyfdx

seanj1 said:

So do I pay NC 3% highway use tax on the monthly lease payment or is it paid upfront at the time of signing? Also who is responsible for the state property tax- since the vehicle is owned by the leasing company, do they pay it or does the lessee have to pay the personal property tax?

Property tax will either be paid directly by the lessee, or paid by the bank, then reimbursed by the lessee.

3% tax on the payments, I think...