SailNet Community - View Single Post - State Registration of Documented Vessels
View Single Post
post #37 of Old 06-25-2012
Stumble
Senior Member
 
Join Date: Feb 2012
Location: New Orleans Louisiana
Posts: 2,355
Thanks: 7
Thanked 82 Times in 78 Posts
Rep Power: 4
 
Re: State Registration of Documented Vessels

Sail life,

I currently am a titanium salesman, though I also have a JD and am bar certified in Louisiana. And worked as an attorney for years, before I realized I hate the practice of law and moved on.

in Louisiana the resale of a boat between private parties (ie not a broker, or retail shop) is considered a 'casual sale'. Which means no sales tax is owed on the second sale. Technically you actually have to get the department of revenu's blessing on the sale, but it is a simple formality unless they contest the sale as a simulation, or one of the other exceptions to the casual sale rules.

Exert from....Louisiana Sales Tax Statutes and Regulations pg 37 (47/174 in PDF)

d. It is not the intention of this Chapter to impose a tax on an isolated or occasional sale, frequently termed a casual sale, except with respect to the sale of motor vehicles, which are specifically cov- ered by R.S. 47:303(4). The primary consideration in determining whether a sale meets exemption requirements is whether the seller is in the busi- ness, or holds himself to be in the business, of selling merchandise or tangible personal property of similar nature, and not solely upon the fre- quency of the transactions

Due to the legal nature this conversation has taken... The above should not be construed to be legal advice, but is of a general nature. Only upon specific review of your facts and situation, and with consultation by a tax law expert can your particular tax liability be determined.

Greg Rubin
Attorney
Stumble is offline  
Quote Share with Facebook
The Following User Says Thank You to Stumble For This Useful Post:
mowrangler (07-16-2013)
 
 
For the best viewing experience please update your browser to Google Chrome