by Armando Martinez
Transferring License Plates in Mississippi
When selling a car, the license plates stay with the seller, not the vehicle. In Mississippi, the tag is registered to both the vehicle and the owner. If one or the other changes, the tag must be removed and surrendered to your county Tax Collector.. The seller must complete all information on the assignment of title except for the buyer’s printed name and signature. If the title assignment does not have a space to record the purchase price, or disclose the current mileage of the vehicle at the time of sale, a bill of sale and odometer disclosure statement (click here for state form 78015) will also be required.
License Plate Fees in Mississippi
The seller must remove their license plate from the vehicle once the title is assigned and the vehicle is delivered to the new owner.
The vehicle must be registered by the buyer within 7 working days of the date of sale of the vehicle. If the buyer purchased the vehicle outside of their home county, you have 48 hours to transport vehicle to residence or place of business and then 7 business days to register the vehicle before penalties apply. At the Tax Collector’s office you will need to complete an Application for Mississippi Title and License for each vehicle you own and pay all applicable taxes and fees. You will need the vehicle’s title and current valid registration (license plate) receipt from the state in which the vehicle was last registered.
To determine the exact amount your new license plate and tag will cost, you will need to contact your local county Tax Collector. Click Tax Assessors and Tax Collectors for a list of county offices and their contact information.
In Mississippi, you will also pay privilege tax, registration fees, ad valorem taxes and possibly sales or use tax when you register and purchase license plates and tags your vehicle. All the taxes are based on the type of vehicle, the gross vehicle weight of the vehicle, the value of the vehicle, and where you live (city, county).
Typical fees you may be charged for transferring license plates in Mississippi are as follows:
- License plate transfer fee: $14
- Title application fee: $9 or a “Fast Track” title is available for an additional $30.00 if you need expedited processing of the title application. Designated agents may add $1.00 to the transaction as their fee for services rendered.
- Sales tax: 5% of the purchase price or National Automobile Dealers Association (NADA) trade-in value, whichever is higher
- Motor vehicle ad valorem tax is based on the assessed value of the vehicle multiplied by the millage rate set by the local county government. (Contact your local county tax collector for the millage rates or click 2022 - 2023 County Millage Rates and 2022 - 2023 City Millage Rates for the current published rates.) Assessed value has been established as 30% of the vehicle’s original published Manufacturer's Suggested Retail Price plus a reduction each year of a certain percentage for depreciation over 10 years. A minimum assessed value is set at $100.00 for passenger vehicles.
It's worth noting that if you're buying a vehicle from a dealer, they will typically handle the license plate transfer for you.
Conclusion
Transferring license plates when buying or selling a car in Mississippi is a relatively simple process. Just make sure to have all the necessary documents, including the title and completed application form, bill of sale and odometer disclosure statement, and be prepared to pay the fees. If you have any questions, don't hesitate to reach out to your local county tax collector's office for assistance or visit the state Department of Revenue website at https://www.dor.ms.gov/tags-and-titles.
This article was written by Armando Martinez. Armando Martinez is among the nation’s experts on automotive titling, registration, DMV services and document operations. With nearly two decades of experience across a broad range of financial services functions and some of the largest names in auto, from Wells Fargo to Uber, Armando combines vision and ingenuity with a wealth of information so auto shoppers and sellers can learn from his experience.
Start your transaction with Caramel, learn more about how the process works, or reach out to our Support team with any questions.
