As my fellow Texans know, our state charges 6.25% sales tax on the full price of an automobile on leases, unlike other states where you pay sales tax incrementally with each lease payment.
My question is about trade-ins: when you buy a car, the value of your trade in is deducted from the new car's price when determining the sales tax. Is the same rule applied to leases?
If, say, I negotiate a lease cap cost of $30,000 and have a trade in valued at $20,000, would I pay sales tax on $10,000? (as I would if I was purchasing?)