minimizing tax burden when buying
- Thread starter richk
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Sales
I bought a new boat in Virginia years ago no sales tax,documented it in Virginia,they locals in your home port want their tax $$$$$.
Nick
I bought a new boat in Virginia years ago no sales tax,documented it in Virginia,they locals in your home port want their tax $$$$$.
Nick
Purchased my Hunter 30" in Hampton and paid Va. tax
Moved it to Tolchester, Md and registered in Maryland. Paid the difference between what was charged in Virgina to Maryland and received two registration stickers for the boat which are good for two years. Note: if your boat is going to spend any significant time sitting in Maryland waters- you will want to be current on your registration. If not- the Maryland DNR (Dept of Natural Resources) have search and fine teams out in the summer months. You pay now or big later.
Ian
s/v Meant to Be
Moved it to Tolchester, Md and registered in Maryland. Paid the difference between what was charged in Virgina to Maryland and received two registration stickers for the boat which are good for two years. Note: if your boat is going to spend any significant time sitting in Maryland waters- you will want to be current on your registration. If not- the Maryland DNR (Dept of Natural Resources) have search and fine teams out in the summer months. You pay now or big later.
Ian
s/v Meant to Be
They will come
NY wants that money for sure if they can get it from you and if you are using
it in NY waters I think it might be 90 days than they will look to collect it.
They some times come around to all Marina's and ask for the list of boats and reg numbers and do a check and if not registered I think they send you a letter
to pay up for the honor of boating in NY.
I had friends that documented their boats out of state and not registered in NY
and never saw the tax guy,privately docked is a good thing also.
Nick
NY wants that money for sure if they can get it from you and if you are using
it in NY waters I think it might be 90 days than they will look to collect it.
They some times come around to all Marina's and ask for the list of boats and reg numbers and do a check and if not registered I think they send you a letter
to pay up for the honor of boating in NY.
I had friends that documented their boats out of state and not registered in NY
and never saw the tax guy,privately docked is a good thing also.
Nick
Not to register is bad advice as local authorities are looking for current stickers whether there are state registration numbers or not.
Taxes
In most cases, the tax (aka registration fee) needs to be paid in the state in which the boat will be kept (and primarily used) and not necessarily were it's purchased. For instance, if you purchase a boat in MD but do not intend to keep/use it in MD then you send a form in to MD DNR attesting to such and are therefore not liable for MD tax. It's called an out of state form. If however, you use/keep the boat in state and you think documenting will get you out of paying taxes, think again. There is a good chance that sooner or later they will find you and you'll end up paying not only the original tax but some pretty severe penalties. In most cases, when a boat's registration is changed from one state to another, credit is given for tax paid in the other state.
In most cases, the tax (aka registration fee) needs to be paid in the state in which the boat will be kept (and primarily used) and not necessarily were it's purchased. For instance, if you purchase a boat in MD but do not intend to keep/use it in MD then you send a form in to MD DNR attesting to such and are therefore not liable for MD tax. It's called an out of state form. If however, you use/keep the boat in state and you think documenting will get you out of paying taxes, think again. There is a good chance that sooner or later they will find you and you'll end up paying not only the original tax but some pretty severe penalties. In most cases, when a boat's registration is changed from one state to another, credit is given for tax paid in the other state.
well i have talked to a harbor master and my boat does not have an engine,
and have been told that all i need is excised tax sticker???
and have been told that all i need is excised tax sticker???
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