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boat taxes?

Old 07-16-2007, 02:35 PM
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Default boat taxes?

I live in SC..........if i buy a boat in another state, do i pay taxes for that state or just my state? I'm talking about the purchase of a new boat. Not sure how that works......never bought one out of state.
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Old 07-16-2007, 03:59 PM
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Default Re: boat taxes?

Typically, you pay the seller the agreed upon price and pay the sales tax when/where you title and register the boat the boat. Sometimes buyers forget the exact amount paid and sales tax on a lesser figure.
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Old 07-16-2007, 04:31 PM
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Default Re: boat taxes?

You'd only pay the sales tax when you register the boat, and then a year or so later, get a bill for it's property tax. Property tax on boats in SC is due at the end of the year, not at the beginning.

EDIT: I just called the Charleston county tax assesors office, and tax bills will be sent out in August.
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Old 07-16-2007, 05:31 PM
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Thats good because.......i believe sc has an excise tax of 5% and a max of $300!!!

well now i looked and see that im wrong its 5% for out of state purchase on a boat.........the 300 is just for instate
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Old 07-16-2007, 07:18 PM
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Default Re: boat taxes?

whsyrdddy - 7/16/2007 5:31 PM

Thats good because.......i believe sc has an excise tax of 5% and a max of $300!!!

well now i looked and see that im wrong its 5% for out of state purchase on a boat.........the 300 is just for instate
Might want to check again; sales tax is capped at $300 for cars and boats. It might be cheaper, depending on what you are buying and for how much, to buy it out of state and then move it here.

I have a friend who has an address in Florida and every few years buys a new Corvette. He buys them there--with no sales tax--and then transfers them here as the property tax and insurance is cheaper. And this guy is a pilot, so if there was a cheaper way, he'd know it.
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Old 07-16-2007, 07:41 PM
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Default Re: boat taxes?

Don't forget to make the bill of sale out seperate for boat, motor, and trailer. Don't know about SC, but many states only make you pay tax on the hull. Just a thought.
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Old 07-16-2007, 09:39 PM
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Default Re: boat taxes?

Joe - 7/16/2007 8:18 PM

whsyrdddy - 7/16/2007 5:31 PM

Thats good because.......i believe sc has an excise tax of 5% and a max of $300!!!

well now i looked and see that im wrong its 5% for out of state purchase on a boat.........the 300 is just for instate
Might want to check again; sales tax is capped at $300 for cars and boats. It might be cheaper, depending on what you are buying and for how much, to buy it out of state and then move it here.

I have a friend who has an address in Florida and every few years buys a new Corvette. He buys them there--with no sales tax--and then transfers them here as the property tax and insurance is cheaper. And this guy is a pilot, so if there was a cheaper way, he'd know it.
yeah man.......i checked on sc dnr website and it says 5% use tax, but I'm gonna call them tomorrow to make absolutely certain.......its at this web address

http://www.dnr.sc.gov/boating/taxinfo.html
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