Legal Question in Business Law in Utah
How many used cars can I legally sell in a 12-month period without a license?
How many used cars can I legally sell in a 12-month period without a license? Do I have to report capital gains made from the sale of these cars? Are there any other specific regulations relating to this question?
Asked on 7/15/00, 12:16 pm
1 Answer from Attorneys
Alvin Lundgren
Alvin R. Lundgren, L.C.
Re: How many used cars can I legally sell in a 12-month period without a license
You might want to check with the State of Utah, Department of Business Regulation, but as I recall it is about 4 or 5. You have to report your gain. You may also have to collect taxes if you sell more than the minimum.
Answered on 9/12/00, 7:03 pm
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