Florida Taxes

[Jerry Woodward]

Just to make sure I understand correctly. If I buy a boat in Florida and intend to keep it in Florida, I will owe about 6% sales tax depending on the county. Since the boat will be USCG documented, I will not owe anything else, correct? So, if I buy a $100,000 boat, I will pay the state of FL $6,000 and be done with it? Will I owe them anything else on a yearly basis?

[tomfl]

Originally Posted by Jerry Woodward

Just to make sure I understand correctly. If I buy a boat in Florida and intend to keep it in Florida, I will owe about 6% sales tax depending on the county. Since the boat will be USCG documented, I will not owe anything else, correct? So, if I buy a $100,000 boat, I will pay the state of FL $6,000 and be done with it? Will I owe them anything else on a yearly basis?

Have to register the boat on a yearly basis, like getting registration for your car. You get a sticker you have to put on the boat, like the sticker you put on the tag of your car. Not a big deal cost wise. If your boat is really old the cost is trivial.

[Rhapsody-NS27]

Even with USCG documented boat, you'll still pay any sales tax. You'll also need to show proof of taxes being paid in order to register with the state. You'll have to check on the state requirements for any annual payments, but from what I can tell, there may be an annual use tax, property tax, or similar.

[Jerry Woodward]

15 year old boat.

[tomfl]

Originally Posted by Jerry Woodward

15 year old boat.

Think the boat has to be 20 years old for price break, other wise

Registration fees vary by the length of the vessel, as follows:

• Class A-1 (vessels less than 12' and all motorized canoes): $12.25

• Class A-2 (12 feet to less than 16 feet): $23

• Class 1 (16 feet to less than 26): $35.50

• Class 2 (26 feet to less than 40 feet): $85

• Class 3 (40 feet to less than 65 feet): $134.50

• Class 4 (65 feet to less than 110 feet): $159.50

• Class 5 (110 feet or longer): $196.50

Please note that some counties may tack on additional fees.

[Jerry Woodward]

Ok, so for a 35 foot boat of 100K, I would pay $6,000 tax up front and about $85.00 per year, depending on the county. Correct?

Thanks for the info.

[smj]

Depending on which county you register in you may have to pay another .25% bringing the possible total to 6.25%.

[Jerry Woodward]

Port St Lucie

[pistarckle]

There is tax evasion and there is tax avoidance . I paid full sales tax on the first boat only . The other six I paid none or greatly reduced .

[Jerry Woodward]

Please don't morph this thread into a "how to avoid paying taxes in florida" thread. I'm going to be locating my boat in Florida and simply want to know what my taxes will be.

[Amapola]

Florida requires boat owners to register their boats (and display the sticker). This includes boats that are USCG documented. You can register for one or two years.

[zboss]

Originally Posted by Jerry Woodward

Please don't morph this thread into a "how to avoid paying taxes in florida" thread. I'm going to be locating my boat in Florida and simply want to know what my taxes will be.

Seriously! Why is it that any time any one asks about State 'X' and taxes everyone assumes its because they want to commit a tax crime.

I have much of the same questions about Florida and not because I want to commit a tax crime... its so that I can follow the law to the letter, pay no more than is absolutely necessary, and be sure that I am in compliance with all local, state, and federal laws.

[pistarckle]

Tax avoidance is not a crime !! There are ways to legally lessen your tax bill in Fl. on titled property !

[pistarckle]

I do not assume that everyone wants to commit a tax crime , I assume that you might like to pay less sales tax . There are over 1,300 exemptions to Florida sales tax . Personal property between individuals is exempt .

[Bud man]

My experience.

I am a Kentucky resident. I had a boat that I paid Kentucky sales tax on, Kentucky personal property tax was about $600/year.

We transferred the title to Florida (we have a house there and keep the vessel there). IIRC it cost about $60 to do the transfer (no sales tax since we had already paid sales tax on the boat). Florida has no property tax on boats, so we only pay the annual registration fees on the boat, ~ $40 / year.

Don't confuse sales tax, that you have to pay one time when you purchase the boat with property tax that you pay every year. In my case I did not save anything on sales tax, but I save about $500/year in property tax by registering the boat in Florida.

Also, you must register the boat in the area where it is docked (stored) and used. If you register the boat in Florida to save on taxes but keep the vessel in Kentucky, you'll have to pay the taxes plus a hefty fine when you are caught (and yes, the man does look for out of state registration)