Many DDI ELT participants have asked questions on how a lender will pay the new Georgia tax. You will find helpful details below:
A vehicle owner can submit payment to the county in which he or she registers the vehicle and applies for a title and registration.
If a vehicle is purchased at a dealership, the dealer will accept the application for the title and TAVT payment on the purchaser’s behalf and deliver the title application and TAVT payment to the county tag agent.
The dealer has 10 days from the date of purchase to remit the title application and TAVT payment to the county agent. If the payment is sent later than 10 days from the date of purchase, the dealer is liable for 5% of the TAVT owned plus an additional 5% for each month the payment the payment was not remitted. If the payment is not sent within 30 days of purchase, a second penalty applies.
For casual vehicle purchases, the buyer must remit the application for the title and the TAVT payment within 30 days of the purchase of the vehicle. If the buyer does not pay within 30 days, a penalty of 10% of the amount of the TAVT owed plus an additional 1% per month for every month the payment is late will be owed.