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post #4 of Old 07-04-2010
jordanship
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Rusty:

You should consult with a professional documentation agent, but generally I think you have been told correctly. The 3 mile idea is called an "offshore closing." You can hop over to the Bahamas and close there. The key nuance is that this is a private sale. Only registered dealers with the Florida Department of Revenue can issue Florida Sales Exemptions. Here is how these work:

1. 90 day - To leave within 90 days, you get sales tax stickers from the registered dealer.
2. 180 day - To leave within 180, you get the stickers plus a new 90 day extension sticker from the dealer.

Do not try to circumvent the Florida DOR. They are a well run organization, and the fines are exorbinant if you are caught. Either pay the 6% tax, go through a dealer, or close in the Bahamas. Consult with a Florida documentation agent to make 100% sure. The rules change all the time.
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