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Old 10-08-2004
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kanzkan is on a distinguished road
Purchasing a boat beyond US borders?

What issues need to be addressed when buying a US documented boat in foreign waters with US currency?
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Old 10-09-2004
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capttb is on a distinguished road
Purchasing a boat beyond US borders?

Because the boat is documented there should be no additional problems with the purchase due to location. Issues that will arise would be in regard to if you are planning to bring the boat here. When that happens many states try to capture the sales tax they feel you tried to avoid by purchasing elsewhere. Here in California used to be if you purchased boat out of state (or country) after 6 months you could move it here and not pay sales tax, they just changed it to 3 years from date of purchase.
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Old 10-11-2004
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WHOOSH is on a distinguished road
Purchasing a boat beyond US borders?

K:

I think you need an answer geared more to the foreign environment than USA state tax law.

Type of currency is irrelevant, as it will likely need to be converted to the currency in use at the place the sale occurs. Exhange rate fluctuations play a big picture in this.

Before purchase, you will want to execute paperwork that seeks U.S. documentation of the vessel. This will protect the boat from - immediately - being liable to local tax. In Europe, this tax is generically known as Value Added Tax (VAT) but it varies in percentage from one country to another.

When/if returning to the U.S. with this boat, you will be liable for approx. 2% duty to Customs on arrival. After that, what tax you pay to local/state authorities depends on where you place the boat, for what period(s) of time, and how visible it is to them.

Jack
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