I do not think you will be taxed on it because you are not the registered owner you essentially loaned money on the car as far as the DMV sees it. This might help. http://www.dmv.ca.gov/pubs/brochures/howto/htvr18.htm
But as far as the DMV and the rest of the world is concerned, 9VLick is not the "legal owner." Check with the DMV the process and fees to be placed on title as the "legal owner." The link by 8D3Toy shows you how to remove the legal owner (usually the bank or factory lender) from title (actually the legal title and equitable titles merge
). You do not want to transfer both legal and equitable title (registered owner) in your name. If Mr. PT Cruiser decides to crash and kill someone, there might be liability on your part if you are the equitable owner.
