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Old 01-07-2011, 12:34 PM
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Default Itemized Bill of Sale for Used Boat in Florida

I am purchasing a used boat tomorrow. I heard that I can save money on the tax by itemizing the purchase price between hull, engine, and trailer. Does anyone have a sample itemized bill of sale for Florida they can share. Thank you.
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Old 01-07-2011, 12:43 PM
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Here ya go

http://www.taxcollect.com/webimages/...rms/uds106.pdf
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Old 01-07-2011, 12:46 PM
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I used something like below. FYI, when I went to register and pay tax the staff at the tax collector's office didn't know that rule and had to look it up. I actually printed the applicable Florida Statute (available on-line) and brought it with me in case. I believe I ended up paying tax only on the hull and the trailer. Good luck


BILL OF SALE
The following vessel is transferred herewith between , as buyer,
and , as seller, for the total price of $sxxxxx, as of xxxxxx, 2008. The following is an itemized approximation of the values established in the transaction:


(1) 2004 xxxxxxxxxxxxx, HIN # xxxxxxxxxxx Value $xx,xxx
(2) 2004 Yamaha xxxxxxxxxxxxxx and Rigging, Props Value $xx,xxx
(1) 3 axle trailer VIN #xxxxxxxxxxxxxxxx Value $ x,xxx
Furuno NavNet, Icom VHF Radio, Simrad AP, Stereo Value $ x,xxx
GPS, XM, VHF Antennas Value $ x,xxx
Safety Gear, Ground Tackle, Lines, Cushions, Ladder Value $ x,xxx

Total Price………………………………………………………………… $xx,xxx



Seller: ______________________________xxxx xxxxx




Buyer: _____________________________ xxxx xxxxx
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Old 01-07-2011, 01:07 PM
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My tax collector would not allow the deduction of the electronics value for some reason. I argued a bit and was told I could appeal it to the Dept. of Revenue. I never did. Itemize as above and hope for the best.

Have it notarized if possible. This will add more validity to the Bill of Sale. Good luck, this saved me over $1300 in sales tax.
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Old 01-07-2011, 01:18 PM
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I just do 3 seperate bills of sale and show the ones I need to show.
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Old 01-07-2011, 02:02 PM
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Quote:
Originally Posted by AtoZ View Post
I just do 3 seperate bills of sale and show the ones I need to show.


thats how I did it,I do not buy tags for my trailer so I only showed the hull bill of sale
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Old 01-07-2011, 02:17 PM
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When I bought my boat earlier this year I was told that this only applies if you are buying from an individual. If you are buying from a dealership you have to pay the full tax on the boat price.
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Old 01-07-2011, 02:33 PM
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Quote:
Originally Posted by super spook View Post
When I bought my boat earlier this year I was told that this only applies if you are buying from an individual. If you are buying from a dealership you have to pay the full tax on the boat price.
That is correct.
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Old 01-07-2011, 02:53 PM
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Originally Posted by tokinred View Post
That is correct.

I confirm that..
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Old 01-07-2011, 05:58 PM
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I bought a new boat from a broker (not a dealer) last year in Alabama. Had separate bills of sale for the hull, motor and trailer. Only had to pay sales tax on the hull and trailer back in Florida.
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Old 01-07-2011, 06:00 PM
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Oh, and by the way if you are buying from a private individual, I've heard that some people fudge the numbers a little bit on the bill of sale in order to save on the sales tax. Just what I've heard...
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Old 01-07-2011, 06:03 PM
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Just how much is the sales tax on boats in fla? I louisiana there is no sales tax on a used boat, but there is on the trailer.
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Old 01-07-2011, 06:40 PM
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Seven percent.
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Old 01-07-2011, 07:14 PM
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That is not so bad, here for cars and trailers it is 10 percent.
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Old 01-07-2011, 10:35 PM
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Does Florida have any "gotcha's" on gifts?

Long story short, I'm getting a boat from friends of the family in Florida.
The boat needs some work, and the deal is "if you want to get it fixed you can have it."

I'll be taking it up north and registering in Delaware.

In Pennsylvania where I live, on cars at least, you can't do a gift any more. If you try the old $1 deal, they won;t do that either. If the registration agency thinks the price is too low, they can charge tax based on blue book value......

I have to buy a trailer for it and bringing a vehicle in from out of state in Pa you only pay the difference in tax between Pa and the state of purchase. Sales tax in Pa is 6%.

The boat is going to cost about 3K for hull repairs, motor should only need impeller and tune up (hopefully) and the trailer is going to be about 5K.

Similar boats have been up for sale for 7-8K with no trailers, so I think I'm making out ok, not stealing it, but I don;t think I'm getting the short end either. There's some nice electronics included too.....

Bugs me a little that I'll have more in the trailer than the boat though.....
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Old 01-07-2011, 11:03 PM
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The itemized bill of sale has to be signed by the seller and NOTARIZED.
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Old 01-08-2011, 05:40 AM
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I believe the mount of tax depends on which county the transfer takes place in. In Brevard I believe it is still 6%.

n3up, get a detailed list of why the boat is being given away, what repairs it needs and costs, bring that with you when registering. This has worked for me with a truck. Claiming a cost of $100 may raise less issues than a pure gift.

My experience in Florida is none of this needs to be notarized. In fact Florida no longer even needs a Power of Attorney form for title transfer to be notarized. Strange but true, just went through this 2 weeks ago selling my son's car, and even the DMV clerks agreed. It can't hurt to have a notary though, and Delaware may require it.
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Old 01-08-2011, 06:41 AM
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Just registered used boat on Jan 5th.
Had bill of sale as outlined in post by rybovich18.
Bill of Sale was NOT notarized.
Sales tax collected only on hull and trailer.
Sales tax rate is dependent upon county, Lee and Collier are 6%, others close by are up to 7.5%.
Screw you on licenses where they may charge you for a full year and the licenses are good for 4 months because they use your birth month as expiration date.
Customer next to me said did not have a bill of sale, DMV pulled out a NADA guide, but I think it was for a car.
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Old 01-08-2011, 09:18 AM
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Big,

I won't be regestering in Florida, I'll just need to get the title transferred so I can register in delaware.
As far as the reasons and costs, the husband can't use the boat anymore due to medical reasons, and the kids aren't interested in it anymore. It needs transom repairs that we have a $2900 estimate for.

So basically I'm getting a boat that could be worth about 8K at best, for the just shy of 3K repair cost, and the cost of a trailer.....
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Old 01-08-2011, 12:02 PM
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Quote:
Originally Posted by n3up View Post
Does Florida have any "gotcha's" on gifts?
...
In Pennsylvania where I live, on cars at least, you can't do a gift any more. If you try the old $1 deal, they won;t do that either. If the registration agency thinks the price is too low, they can charge tax based on blue book value......
...
Unless something has changed in PA in the last yr or so, when you reg a car/light truck that was bought in-state, you pay tax on the amt stated on the bill of sale. If that amt differs significantly from the NADA (AAA uses NADA anyway), then you need to give a statement as to why the sale price is so low.

Um, a friend, ya, that's it,... did this a number of times. Only when the price was rediculously low did I, I mean my friend, (the seller)\ get a form from the state requesting confirmation of the sale price.

So basically no issues w/ this. Buyer & seller better be in agreement though. Just what I've heard of course.
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