Join Date: May 2006
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Sales Taxes, Property Taxes, Registration...
I hope everyone has their taxes done for tomorrow! Yuk!
Out boat search is starting to kick into high gear. One question that came to mind is taxes. We are looking for a used boat in the 50k price range. We are looking throughout the east coast, Florida, and Gulf Coast.
How does sales tax work in the different states? What about personal property taxes? I think there are some states that charge personal property taxes?
Basically, I'm trying to figure out 1) how much more than my offer I need to plan for and 2) if there are some states that I should favor and others I should avoid.
So far here are some costs I have in mind:
Haulout (for survey if it is in the water or to put in if it is in the hard -- I would think I would want to test sail just about anything before committing to buying it): ~$7/ft
Registration -- don't know what state I'll be buying so don't know how much to expect. We live in Minnesota but will be "cruising" elsewhere. Where does is make sense to register it? Any thoughts?
Sales taxes -- same as above. It looks like Florida, for example, has a sales tax of 6%. However, the boat is sold to someone out of state, that is exempt.
Personal property tax -- I know very little about this. I have just heard that some personal property in some states.