Any information on taging my boat national with the coastguard vs the state. Personal proptery tax avoidance ect.
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Coast Guard Documentation
Coast guard documentation does not exempt you from property tax on the boat but it does make it difficult for the state to determine that you are not paying it
. Coast guard documentation costs about $100 and then is renewable annually at no cost, so over time there is a slight savings over state registration fees.
Coast guard documentation does not exempt you from property tax on the boat but it does make it difficult for the state to determine that you are not paying it
. Coast guard documentation costs about $100 and then is renewable annually at no cost, so over time there is a slight savings over state registration fees.Lenders
Some bank and finance companies require documenting the vessel so check with your lender.
Some bank and finance companies require documenting the vessel so check with your lender.
...and some lenders require state registration.
When we purchased our H'31, there was a requirement that it was remained registered with a California State registration ONLY. This was what you may now know as Wells Fargo Bank (formerly FIB or Ca.). The cost for the Coast Guard Registration is $133 + other fees, depending on transfer of titles etc. This of course is if you do it yourself (no big deal). If you have someone do it for you, then you are looking at much higher fees (like 3-4 times. In some states it makes sense to do it. The state of California is only charging about $10 for a two year CF number. If you register in the state of Nevada the fees are much higher.
When we purchased our H'31, there was a requirement that it was remained registered with a California State registration ONLY. This was what you may now know as Wells Fargo Bank (formerly FIB or Ca.). The cost for the Coast Guard Registration is $133 + other fees, depending on transfer of titles etc. This of course is if you do it yourself (no big deal). If you have someone do it for you, then you are looking at much higher fees (like 3-4 times. In some states it makes sense to do it. The state of California is only charging about $10 for a two year CF number. If you register in the state of Nevada the fees are much higher.
No tax advantage in NY
And it takes 5 months now to get documentation for your boat. My lending institution required documentation on my newly acquired 1990 H33.5, never documented before. I still must register with the DMV here in NY and pay the same fee.
And it takes 5 months now to get documentation for your boat. My lending institution required documentation on my newly acquired 1990 H33.5, never documented before. I still must register with the DMV here in NY and pay the same fee.
Most, if not all states still require . . .
that you register your boat with the state. You are exempt from placing the registration numbers on the boat if you are documentated, but the state know knows who you are and will send you a tax bill for the boat at the end of the year. A lot of states also check with marina's for a list of boat owners to catch those that haven't registered their boats. You might get away without registering if you keep your boat at home, at least until you are pulled over for a safty check.
that you register your boat with the state. You are exempt from placing the registration numbers on the boat if you are documentated, but the state know knows who you are and will send you a tax bill for the boat at the end of the year. A lot of states also check with marina's for a list of boat owners to catch those that haven't registered their boats. You might get away without registering if you keep your boat at home, at least until you are pulled over for a safty check.
CG Documentation
In this federal political system of ours, each of the 50 states plus DC get to make their own laws regarding boat titling and registration. As previously stated, many states still require state registration even if the boat is CG documented. The primary purpose is to make sure that you have paid sales/use taxes.
In this federal political system of ours, each of the 50 states plus DC get to make their own laws regarding boat titling and registration. As previously stated, many states still require state registration even if the boat is CG documented. The primary purpose is to make sure that you have paid sales/use taxes.
In Washington State whether you document...
your boat makes no difference, the State still requires that you pay sales tax when you buy a boat. The amount of tax is based upon the purchase price of the boat and which tax jurisdiction the boat was purchased. In my case it was 8.24%. In addition the State mafia requires that you purchase a right-to-use tab each year, the amount based on the size of your boat, $650 in my case. Does the tab money go towards waterway improvements? Noooooooo! It all goes into the General Fund, which pays for highway improvements, overtime, bridge repairs, political junkets, etc. Terry
your boat makes no difference, the State still requires that you pay sales tax when you buy a boat. The amount of tax is based upon the purchase price of the boat and which tax jurisdiction the boat was purchased. In my case it was 8.24%. In addition the State mafia requires that you purchase a right-to-use tab each year, the amount based on the size of your boat, $650 in my case. Does the tab money go towards waterway improvements? Noooooooo! It all goes into the General Fund, which pays for highway improvements, overtime, bridge repairs, political junkets, etc. Terry
Terry, easy on the disparaging Mafia remarks,
I think they are much better than the Department of Revenue.
I think they are much better than the Department of Revenue.
Fred, gee and I thought I was being nice...
Daryl, is that an assumption or a fact that you reference? What do you mean by, "keep moving"? Do you move from port to port within the state or out of state? Any way I can avoid payng the tax mafia, I'm interested. Oops, sorry Fred. Terry
Daryl, is that an assumption or a fact that you reference? What do you mean by, "keep moving"? Do you move from port to port within the state or out of state? Any way I can avoid payng the tax mafia, I'm interested. Oops, sorry Fred.
Terry- Status