Join Date: May 2003
Location: Southold, NY
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Rep Power: 14
Obviously, judging from the responces I am getting to my post, I was not clear in my intentions, needs or questions. Let me try again.
First, to make this clear, I am not at all trying or desireing to avoid the NY sales tax. My situation is this:
I work as a shipwright via a small buisness I have repairing, restoring, maintaining and building (on occasion) boats (almost all sailboats). I work out of a small Marina. The boat I am buying has been berthed at this Marina for the past 4 years and the owner became a customer of mine. I have maintained, and done many upgrades to this boat over this time and the boat is in excellent shape. I have surveyed the boat myself, AND have also had it surveyed by an independent, professional surveyor, so I know the boats condition thoroughly, inside and out. Presently, I live in a house I rent, which costs me over $2,000.00/month. For those of you who are concernred that I might be stretching myself out to thin, I plan to move out of this house and move aboard the boat and live on it at the Marina where it is berthed and where I work out of. This will cost me a lot less than I currently am spending. (BTW, I live alone, with just my dog as family)So..living aboard is a better finacial situation for me. More importantly to me is that I love living aboard and that has always been my dream. I do currently own a 29ft Contest, which I lived on for 3 years. Because it was in need of major work and upgrades to make it more liveable, I pulled it out of the water several years ago to give it a major re-fit and upgrades. I have rented the house during this time. I intened to move back aboard this boat when I finnished it (it is about 90% completed) but I aso have desired somthing larger because 29 feet is a bit tight for a liveaboard. I just never had the opportunity to find and buy somthing more suitable until now. My plan is to move out of this house and abord the new boat on Dec. 1, where I will live aboard her at her current slip ,at the Marina I work out of. I can then stop paying my landlords mortgage and pay for somthing I own!
My question is , in order to transfer the boat over to me, do I first take care of the documentation and then get it registered, when I then pay the NY sales tax..or.. do I have to get it registered first,pay the sales tax and then go about transfering the documentation ? BTW, the boat is currently Documented and registered in NY. I hope I can do the documentation first , which should take a bit of time, and then get it registered and pay the tax. This would give a bit of time ,even a monthwould help, before I have to come up with the sales tax money. Otherwisae I have to come up with the boat downpayment and the sales tax all at once which is going to be tough for me to do. AT any rate, I do need to find out the proper procedure for transacting the sale and transfer of this boat. Doc. first and then reg.+ tax or reg.+ tax, then doc.? Thanks for all your responces and help...they are appreciated. Rick