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post #15 of Old 12-22-2006
xort
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Be aware of the tax consequences of various state laws. Florida has, I believe, a 6% sales tax. But you do not have to pay that tax if you are not a resident of that state as long as you move it out of Fl within, I think, 90 days. You could register it in your home state and then pay their sales tax. But if you keep it in Maryland waters, you will pay Maryland taxes. The way it works is, let say your state of registration has a 6% sales tax. If you keep the boat in Maryland longer than 60 days, they will want the balance between your 6% and the Maryland tax of 8.5%. So you pay an additional 2.5% tax to Maryland. If you can't prove you paid the 6% then you pay the whole 8.5%. Most states operate this way but Maryland has a very high tax that will get you and they do actively look for people like you to grab all they can.
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