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Tax question about registering out-of-state leased car in CA
I'm registering a TX leased car in CA. TX collects tax upfront but I rolled it into my monthly payment. Now that I moved to CA, I have to pay CA tax on my monthly payment. I was told that I do not get tax credit for a TX leased car in CA. So my understanding is now I have to pay TX tax on the car's value + monthly CA tax on base payment (excluding rolled in TX tax) + monthly CA tax on the rolled in TX tax. Is that correct?