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Go Back   SailNet Community > General Interest Forums > General Discussion (sailing related)
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  #11  
Old 09-14-2006
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Resdog...I know that is not true in any state on the East Coast except those without sales taxes. What state do you live in? If true...it may become the boating capital of the USA if we get the word out!
Documentation fee is several hundred dollars to the Feds. Sales tax on a new vessel could be 10K+ to the State...I don't think many states would go for that trade!
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  #12  
Old 09-14-2006
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Camraderie, I am in Missouri. It is the boating capital of the midwest. This is exactly why most large power boats at the Lake of the Ozarks are documented. It saves thousands of dollars. The boat must still be state registered and in Missouri you will pay personal property tax on the boat every year. So the state loses some sales tax money, but the tourism dollars that come in with the summer boaters is astronomical.
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Old 09-14-2006
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Quote:
Originally Posted by sailingdog
The idea of the government drafting a sailboat into use is fairly ludicrous. Most private sailboats aren't of the size, cargo carrying capacity or speed necessary in today's world.
Maybe not "in todays world" .

During WWII private yachts were used to patrol west coast waters for signs of enemy ships. These were drawn from the local yacht clubs. I have no idea if they were government conscrips. I had previously thought this was done on a voluntary basis. To my knowlege they were not used for cargo or trans port.

Dewey
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  #14  
Old 09-14-2006
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Res...thanks for the info...unfortunately I don't have a lake boat!
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  #15  
Old 09-14-2006
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Res...me again...I went to the MO state tax site and found that there IS a tax for documented new boats...it is called "in lieu of" and would be $4K on a new 200k boat...then you have to pay a minimum of 2% ANNUALLY in personal property tax...I think I'll stay in salt water!
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Old 09-14-2006
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Most states still "tax" documented boats when first boat.brought and registered in that state. They may call it a use tax or something else, but it amounts to a sales tax. Here in Maryland, I had to pay 5% when I bought the boat (in Virginia) and then moved it into Maryland waters. I also have to pay the registration fee every year ($12 or something like that) and display a little decal on the boat showing I have paid the yearly fee. The big advantage to documentation over state registration is not having those goofy numbers and letters at the bow. Only east coast state I'm aware of without a sales tax on boats is Rhode Island.
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Old 09-14-2006
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One minor point, many states have reciprocity, so if your boat is documented and you have paid sales tax in another state equal to or greater than the sales tax of the state you are going to, you pay a pretty low registration fee.

Jeff
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Old 09-14-2006
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Quote:
Originally Posted by resdog
Many people document expensive boats, especially new, expensive boats because the documenting fee is in lieu of sales tax and is usually considerably less. That's the way it is in my particular area of the US.
Nope... still have to pay sales tax on it... at least in the US I live in. Also have to pay excise or personal property tax as well.

And if you move the boat from most states to the state of primary use, you will only have to pay taxes on the boat in the state of primary use. I bought my boat in Maryland, but didn't have to pay any taxes on it in Maryland, but I did have to sign a piece of paper saying that I was going to be taking out of the state in effect. I did pay taxes on it in the state of primary use though.
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Old 09-14-2006
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You guys should consider yoruselves lucky. Here in Ontario it is 14% sales tax combined, federal and provinicial. Every time the boat, car etc. is sold!

Gary
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Old 09-14-2006
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Yeah, but you get all that great "free" health care!
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