The Hull Truth - Boating and Fishing Forum

Go Back   The Hull Truth - Boating and Fishing Forum > BOATING FORUMS > The Boating Forum
Search

Notices

Random Quote: every day is christmas, every night is new years eve...sade
Reply
 
Thread Tools Search this Thread
Old 02-09-2007, 02:48 PM
  #1    
Senior MemberCaptains Club Member
 
Join Date: Nov 2006
Location:
Posts: 328
Default Florida Sales Tax for used boat

I am serious about buying a Regulator in Florida. Boat is $90k and the broker is telling my I have to pay $5400 in sales tax. Is this correct? Boat is used of course. I would think they have a cap on the sales tax for a high dollar item like this. Anyone have any insight?
jtms is offline   Reply With Quote
Old 02-09-2007, 02:56 PM
  #2    
Senior Member
 
Join Date: Feb 2006
Location:
Posts: 181
Default RE: Florida Sales Tax for used boat

Sorry but there is no getting around the 6% Tax.....its the law.
"C" Quest is offline   Reply With Quote
 
Old 02-09-2007, 02:58 PM
  #3    
Senior MemberCaptains Club Member
 
Join Date: Nov 2006
Location:
Posts: 328
Default RE: Florida Sales Tax for used boat

Quote:
"C" Quest - 2/9/2007 2:56 PM

Sorry but there is no getting around the 6% Tax.....its the law.
Prob another dumb question...even if I am in SC I have to pay the 6%.
jtms is offline   Reply With Quote
Old 02-09-2007, 03:04 PM
  #4    
Senior MemberCaptains Club Member
 
Join Date: May 2005
Location: Pompano Beach, FL
Posts: 7,412
Default Re: Florida Sales Tax for used boat

Well, I would think the broker should be able to help you out. But used private party to private party, you can itemize the boat, engines, and trailer - and avoid some of that tax. FL collects used sales tax on the parts you register WHEN you transfer the title - not the engines, electronics, or accessories which presumably have already been taxed once when bought new.

For a $90k boat, I think you could itemize out at least $30k for engines, electronics, etc.

I used to have a link to this on the FL tax collector's website but can't find it now - but as far as I recall it was very straightforwardly worded and legit. I itemized out my boat purchase this way and the tax guys didn't even blink when I showed them the bill of sale.

Now, if you are in a different state - it is a whole different question, because you'll want to figure out what goes to FL and what goes to SC. Honestly I think most of the tax may end up in the state where YOU live. You definitely need to call up your home state's tax collection dept and get confirmation from them - you could otherwise end up getting taxed TWICE.

Edit: AHA, here is the link: http://www.hsmv.state.fl.us/dmv/faqboat.html#4

------------------------------------------

If the seller of a vessel entered the entire selling price of a boat, trailer and motor as the selling price on the transfer portion of the vessel title being transferred, must the new owner pay sales tax on the entire amount?

Yes, sales tax must be paid on the amount entered on the title, unless an itemized bill of sale listing the price of each component of the rig is submitted with the application. In such a case, the owner would only be required to pay sales tax on the boat and trailer.
Flot is offline   Reply With Quote
Old 02-09-2007, 03:14 PM
  #5    
Senior MemberCaptains Club Member
 
Join Date: May 2004
Location: Myrtle Beach, SC
Posts: 615
Default Re: Florida Sales Tax for used boat

Last year I purchased my Jupiter in Florida and had it delivered to NC. I signed a state form from Florida saying that the boat was going to be used and stored in the Carolinas and I did not have to pay the tax. The transaction was handled by a Broker and the forms sent to the state by me. I even had to send them proof of the storage bill in NC. I am sure however, if I was to move to FL or the boat was to be sold back to Florida, which it was, then sales tax would be due when it got back to FL. Hope this helps.

Fred
Contender23 is offline   Reply With Quote
Old 02-09-2007, 03:34 PM
  #6    
Senior MemberCaptains Club MemberPLEDGER
 
Join Date: Feb 2004
Location: Atlanta, GA
Posts: 5,669
Default RE: Florida Sales Tax for used boat

Quote:
jtms - 2/9/2007 2:48 PM I am serious about buying a Regulator in Florida. Boat is $90k and the broker is telling my I have to pay $5400 in sales tax. Is this correct? Boat is used of course. I would think they have a cap on the sales tax for a high dollar item like this. Anyone have any insight?
Do you live in Florida? If so, then you are getting good information.

If you don't live in Florida, all you have to do is sign a sales tax waiver form saying you will be taking the boat out of state and registering it there. Then, you pay sales tax in the state where you will be registering it, if that state taxes used boat purchases. Not all states tax used boat purchases....if you live in GA, then no sales tax is collected. Just the registration fees, and the yearly ad valorem tax.

I hope the broker was just misinformed...and not trying to pad his commission.
__________________
Too many to list - all have been sold.
Parthery is offline   Reply With Quote
Old 02-09-2007, 04:24 PM
  #7    
Senior Member
 
Join Date: Mar 2006
Location: Brevard County Fl
Posts: 111
Default RE: Florida Sales Tax for used boat

Quote:
jtms - 2/9/2007 2:58 PM

Quote:
"C" Quest - 2/9/2007 2:56 PM

Sorry but there is no getting around the 6% Tax.....its the law.
Prob another dumb question...even if I am in SC I have to pay the 6%.
No not a dumb question. If you live in another state and register the boat in another state you pay the tax of that state nad not FL
seaurchin is offline   Reply With Quote
Old 02-09-2007, 04:43 PM
  #8    
Senior Member
 
Join Date: Dec 2006
Location: Manasquan,NJ
Posts: 136
Default Re: Florida Sales Tax for used boat

I bought a boat in FL and live in NJ. NJ sales tax is 7% and FL is 6%. Either way I had to pay the tax...I chose to pay the FL tax and will have to show the bill of sale when I register in NJ. NJ will accept the 6% tax already paid...so I saved 1%.

L
lstockiii is offline   Reply With Quote
Old 02-09-2007, 05:06 PM
  #9    
Senior MemberCaptains Club Member
 
Join Date: Sep 2006
Location: New Orleans
Posts: 520
Default Re: Florida Sales Tax for used boat

I had 90 days to remove my boat from florida waters and then could not return for 6 months, otherwise I would have had to pay the florida tax. I live in Louisiana where a used boat is considered a casual sale if your not buying it from a dealer. casual sales tax is 0%, so I paid no tax for my convertable
__________________

BubbaBert is offline   Reply With Quote
Old 02-09-2007, 05:46 PM
  #10    
Senior MemberCaptains Club Member
 
Join Date: Mar 2002
Location: west palm beach,fl
Posts: 433
Default Re: Florida Sales Tax for used boat

Pay attention to Adam, He is right on
Kat-Man-Do is offline   Reply With Quote
Old 02-09-2007, 06:15 PM
  #11    
Senior MemberCaptains Club Member
 
Join Date: Nov 2006
Location:
Posts: 328
Default Re: Florida Sales Tax for used boat

Anyone know what the tax rate is in South Carolina for used boats?
jtms is offline   Reply With Quote
Old 02-09-2007, 06:20 PM
  #12    
Senior MemberCaptains Club Member
 
Join Date: Nov 2006
Location:
Posts: 328
Default Re: Florida Sales Tax for used boat

Quote:
jtms - 2/9/2007 6:15 PM

Anyone know what the tax rate is in South Carolina for used boats?
Nevermind....I found my answer from the SC tax website. $300 is a lot better than $5400 the broker told me. Wonder if he was trying to pull a fast one.

A maximum sales tax of $300 is imposed on the purchase of motor vehicles, including recreational vehicles, boats, motorcycles and airplanes
jtms is offline   Reply With Quote
Old 02-09-2007, 06:44 PM
  #13    
Senior Member
 
Join Date: Feb 2006
Location:
Posts: 181
Default Re: Florida Sales Tax for used boat

I didn't realize this was an out of state purchase........good for you.
"C" Quest is offline   Reply With Quote
Old 02-09-2007, 07:07 PM
  #14    
Senior MemberCaptains Club Member
 
Join Date: Mar 2005
Location: Rhode Island
Posts: 360
Default Re: Florida Sales Tax for used boat

OK, here's a good one for the gurus out there. I am in RI. No sales tax on boats or motors if purchased as a package. Sales tax on trailer. This is new or used. If I move to FL, will I have to pay any sales tax when I register since I cannot produce any evidence of a sales tax paid in previous state?
Jay
jaydon is offline   Reply With Quote
Old 02-09-2007, 07:27 PM
  #15    
Senior Member
 
Join Date: Jan 2007
Location: Albemarle Sound Management Area
Posts: 4,552
Default Re: Florida Sales Tax for used boat

Quote:
jaydon - 2/9/2007 7:07 PM

OK, here's a good one for the gurus out there. I am in RI. No sales tax on boats or motors if purchased as a package. Sales tax on trailer. This is new or used. If I move to FL, will I have to pay any sales tax when I register since I cannot produce any evidence of a sales tax paid in previous state?
Jay
If you are moving and take your registered boat with you, there is no sale invoved. You should just be able to register it in Florida.
Crabpot Man is offline   Reply With Quote
Old 02-09-2007, 11:08 PM
  #16    
Senior MemberCaptains Club MemberPLEDGERPLEDGER
 
Join Date: Jan 2006
Location: Maui and SoCal
Posts: 7,106
Default Re: Florida Sales Tax for used boat

If you buy and pay the tax on a boat in a 6 percent state and take it to a state where the tax rate is higher, the higher state will usually ask for the difference in what you paid and what their rate is. There is commonly a 90 day rule in that if you've owned it for more than 90 days in another state, you can bring it into your state and not owe the tax on it. Most states are very diligent in collecting the taxes due and the penalties for evasion are stiff.
__________________
Kern O.
kerno is offline   Reply With Quote
Old 02-09-2007, 11:26 PM
  #17    
Senior Member
 
Join Date: Oct 2005
Location: Los Angeles, FL., Texas or Georgia, depends. In UTAH now.
Posts: 7,181
Default RE: Florida Sales Tax for used boat

Quote:
jtms - 2/9/2007 2:58 PM

Quote:
"C" Quest - 2/9/2007 2:56 PM

Sorry but there is no getting around the 6% Tax.....its the law.
Prob another dumb question...even if I am in SC I have to pay the 6%.



Move to CA and pay 8.5%
solarfry is offline   Reply With Quote
Old 02-10-2007, 08:06 AM
  #18    
Senior MemberCaptains Club Member
 
Join Date: Aug 2006
Location: Miami Beach, FL
Posts: 1,685
Default Re: Florida Sales Tax for used boat

Florida used or new same rate. The rate will be determined the county you register in.
__________________
Dsaltydog
Capt. FV "GIRLYMAN"
Intrepid 348 WA

>>)))))))):> ~----
Dsaltydog is offline   Reply With Quote
Old 02-10-2007, 09:11 AM
  #19    
Senior MemberCaptains Club Member
 
Join Date: Sep 2004
Location: South Florida
Posts: 3,455
Default Re: Florida Sales Tax for used boat

Dsalty is right on. Each county has the option of adding to the base 6% rate. Here in Broward county (Ft. Laud, etc.) there's no addition so all I charge my fly customers is the base 6% rate... Since Fla doesn't have an income tax, sales and property taxes are important. Thank heavens I don't live up north.
__________________
Tight Lines
Capt Bob LeMay
(954) 435-5666
lemaymiami is offline   Reply With Quote
Old 02-14-2007, 11:57 AM
  #20    
Junior Member
 
Join Date: Jan 2003
Location: charleston sc
Posts: 8
Default RE: Florida Sales Tax for used boat

The Man, Its all about the man!!




Deep Chocolate
63' Jarret Bay
Lake Murrey
Bigbill is offline   Reply With Quote
 
 
Reply

Thread Tools Search this Thread
Search this Thread:

Advanced Search

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
Reduce your sales tax on a used boat purchase in Florida signmansez The Boating Forum 41 06-27-2014 09:29 AM
The State of Florida and sales tax! kerno Dockside Chat 26 12-02-2007 11:53 AM
Boat Sales Tax legrandfromage Technical Issues with THT website 1 11-06-2005 06:55 PM
Florida used boat sales tax question ConchCruzer The Boating Forum 9 07-15-2004 09:43 PM
Want to save $$$ on Florida Sales Tax-READ THIS!!! KeithLJonesCPA The Boating Forum 8 02-25-2004 06:53 AM

 



©2009 TheHullTruth.com

Powered by vBulletin® Version 3.7.6
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.
Search Engine Friendly URLs by vBSEO 3.2.0