Business Vehicle Taxes

[Claudiu C.]

Hello,

I recently purchased a vehicle and registered in NJ to my second residence. I applied for the loan together with my LLC which is domiciled in NJ. The vehicle is exempt from taxes in the state in which the vehicle was purchased. If I register the vehicle to NY state, the vehicle is subject to state, local and MCTD taxes - in addition to registration fees. Can I transfer the vehicle title to the business and then have the business gift the vehicle in my personal name at my NY residence? I still plan to use it for business and take the vehicle expense deduction for the business use.

Any advice here would be helpful. 

Thanks!