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Old 15-04-2012, 16:00   #1
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Md tax question

I am a DE resident. Keeping the boat in MD while I work on it, I would guess it would be a year. There is an excise tax exclusion for MD while a boat is under repair. Anyone know anything about this or how to apply for it? I plan to register the boat in DE and move it to a De port after it's all fixed up. but I don't want to pick any fights with MD.
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Old 15-04-2012, 16:31   #2
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Re: Md tax question

If the boats not in the water it doesnt need a MD reistration.
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Old 15-04-2012, 17:45   #3
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It is in the water. Floating even, the last time I looked.
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Old 15-04-2012, 18:36   #4
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Re: Md tax question

If its in the water for 6 months in a calendar year I think you owe MD excise tax on it. 5%
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Old 15-04-2012, 18:41   #5
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Re: Md tax question

Quote:
Originally Posted by DSDman View Post
There is an excise tax exclusion for MD while a boat is under repair. Anyone know anything about this or how to apply for it?
Aren't all boats under some kind of repair at all times?
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Old 18-04-2012, 09:20   #6
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I spoke with the tax folks in MD. The repair exclusion is only if you are not using the boat at all, just working on it. So that blows me out there. Had I known I would have tried harder to find a slip in Delaware. I am still looking... if I could find one cheaper than the 4250 bucks I'm going to have to pay MD, I would just move it and eat the slip fees I've already paid for the year. or move it back and forth. I though I could also get the military clause exclusion for one year but that only applies if you are stationed in the state of Md. I had a girlfriend once named Maryln, she was very pretty but also very hard to get along with.
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Old 18-04-2012, 09:44   #7
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Re: Md tax question

dang revenewers
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