Join Date: Mar 2011
Thanked 0 Times in 0 Posts
Rep Power: 6
Purchase, sales taxes, location of purchase, and the laws?
As I get closer to the purchase, I can't help it to notice the multiple lines in ads in Yachtworld from brokers stating that if you buy in NC from out of state you pay no sales tax or the same from FL if only stay 180 days or less. How does that really work?
I am all for tax avoidance, but not for tax evasion. Big difference, and I hope everyone can see that. In other words, if I can legally get away with not paying more for something (taxes), then I will. I don't think there is anyone that can say they love to pay more and pay for taxes if they could help it. Doing it illegally IS NOT an option. I know I am not alone!
OK, os to the specific questions. I live in FL, but I will be looking at boats likely as far north as NC on the east coast and along the gulf and caribbean as well if needed. So, if I buy a boat outside of FL, then I don't pay taxes in that state right? But do I have to pay them in FL (at FL rates) when I come back to register the boat here (will be USCG documented too)? What if the boat spends 180 days or more outside of FL but it is registered in FL when I buy? Like, let's say I buy the boat in FL or NC, want to register it in FL, but it will spend 180 days or more outside of FL in the Bahamas?
I think you can see where I am going with these questions. Any guidance or help would be appreciated. I did do a search, but it did not answer my questions.