Cruisers Forum
 


Join CruisersForum Today

Reply
 
Thread Tools Rate Thread Display Modes
Old 13-08-2015, 12:08   #1
Marine Service Provider

Join Date: Jul 2015
Location: Caribbean
Boat: VZ 16
Posts: 86
Boat taxes in US

Hello,

I have a yacht bought in Italy and I have meanwhile found buyer for her from USA. Question of mine is if a European (EU) company (mine) would sell yacht in USA what taxes/duties are required to pay ?

Another question is who is paying these taxes/duties buyer or seller ?
__________________

__________________
Jack_Sparrow is offline   Reply With Quote
Old 13-08-2015, 12:17   #2
Registered User

Join Date: Oct 2007
Location: Winters cruising; summers Chesapeake Bay
Boat: Catana 471
Posts: 1,239
Re: Boat taxes in US

I think you have two choices:
1. Import the vessel into the US - you pay the duty - or you cannot sell it in US waters, or
2. Sell it to a US citizen/resident outside of US waters, then the buyer will have to import it and pay the duty.

Dave
__________________

__________________
2Hulls is offline   Reply With Quote
Old 13-08-2015, 12:34   #3
Marine Service Provider

Join Date: Jul 2015
Location: Caribbean
Boat: VZ 16
Posts: 86
Re: Boat taxes in US

Quote:
Originally Posted by 2Hulls View Post
I think you have two choices:
1. Import the vessel into the US - you pay the duty - or you cannot sell it in US waters, or
2. Sell it to a US citizen/resident outside of US waters, then the buyer will have to import it and pay the duty.

Dave
Does this duty depend on sth ? Yacht value/lenght etc?
__________________
Jack_Sparrow is offline   Reply With Quote
Old 13-08-2015, 12:40   #4
Registered User

Join Date: Aug 2013
Location: Laboe - Germany
Posts: 443
Re: Boat taxes in US

... value for sure.

https://help.cbp.gov/app/answers/det...e-into-the-u.s.

Carsten
__________________
CarstenWL is offline   Reply With Quote
Old 13-08-2015, 13:31   #5
Marine Service Provider

Join Date: Jul 2015
Location: Caribbean
Boat: VZ 16
Posts: 86
Re: Boat taxes in US

Quote:
Originally Posted by CarstenWL View Post
Thanks a lot
__________________
Jack_Sparrow is offline   Reply With Quote
Old 14-08-2015, 09:04   #6
Registered User

Join Date: Feb 2008
Location: GREEN COVE SPRINGS, Florida
Boat: Irwin 43 Mk111 CC, Sloop
Posts: 362
Send a message via Skype™ to adlib2
Re: Boat taxes in US

Quote:
Originally Posted by Jack_Sparrow View Post
Hello,

I have a yacht bought in Italy and I have meanwhile found buyer for her from USA. Question of mine is if a European (EU) company (mine) would sell yacht in USA what taxes/duties are required to pay ?

Another question is who is paying these taxes/duties buyer or seller ?
Depends on The State in the US where it becomes registered. Last time I checked it was 6% of the Boat Value. Greatly reduced if boat is 30 yrs old qualifying as a classic.
__________________
adlib2 is offline   Reply With Quote
Old 14-08-2015, 09:24   #7
Registered User

Join Date: Apr 2013
Location: Virginia
Boat: Cadtana 431
Posts: 48
Re: Boat taxes in US

The US import duty on used boats manufactured abroad is 2% of the sales value. (It is differrent for dinghies and outboard motors.) It can supposedly be paid through a bond, although the process mystifies me.
-Steve
__________________
sailsw00 is offline   Reply With Quote
Old 14-08-2015, 09:51   #8
Registered User
 
Sand crab's Avatar

Join Date: Oct 2010
Location: Gig Harbor, WA
Boat: 34' Crowther tri sold 16' Kayak now
Posts: 3,157
Re: Boat taxes in US

Actually the import duty is 1.5% (see the link above). You can not attempt to sell a foreign flagged boat if it's in the US unless you state this:

"Why are some yachts not for sale to US residents while in US waters?

You will see this term next to many yachts advertised for sale or charter. Any non-USA built vessel which has never paid USA Customs duty, or a USA built vessel that has been exported and is currently foreign flagged, can not be offered for sale or charter to US citizens while in USA waters until making a formal USA entry. USA duty, assessed at 1.5% of the appraised value, is a one time taxable event. A duty free formal entry can be made if duty had previously been paid and can be proven with a receipt or a returning USA built vessel."

Frequently Asked Questions | superyachts.com

The buyer might have to state register the boat which can be from 0% to 6% depending on the state. He will pay this.
__________________
We don't need no stinking badges.
Sand crab is offline   Reply With Quote
Old 14-08-2015, 10:11   #9
Registered User

Join Date: Feb 2010
Location: Caribbean winters, North Dakota/Minnesota summers
Boat: Leopard 39 Owners Version
Posts: 335
Re: Boat taxes in US

and then there's the engine emission regulations that have to be met..
__________________
Privleoplag is offline   Reply With Quote
Old 14-08-2015, 10:26   #10
Registered User

Join Date: Feb 2006
Location: Meandering St Marten to Grenada for hurricane season
Boat: Lagoon 470 cat
Posts: 262
Re: Boat taxes in US

There are two kinds of taxes to be concerned with.

Import Duty - will apply if the boat is "imported" into the US. Puchase by an American delivered within US is imported.

Sales Tax - Depends on the state the transfer takes place in. Many states have no sales tax on boats, others are expensive.
__________________
Moontide is offline   Reply With Quote
Old 14-08-2015, 10:42   #11
Senior Cruiser
 
Cheechako's Avatar

Cruisers Forum Supporter

Join Date: Aug 2006
Location: Skagit City, WA
Posts: 19,369
Re: Boat taxes in US

The import duty is very low as noted above. ~1.5-2% depending on a bunch of unclear stuff. State taxes are more and apply to the buyer.
__________________
"I spent most of my money on Booze, Broads and Boats. The rest I wasted" - Elmore Leonard











Cheechako is online now   Reply With Quote
Old 15-08-2015, 13:21   #12
Registered User

Join Date: Dec 2011
Posts: 412
Re: Boat taxes in US

Where was your boat built? Some boat-building countries' (like South Africa) products are duty exempt when reflagging to US.
__________________
jmschmidt is offline   Reply With Quote
Old 26-08-2015, 03:02   #13
Marine Service Provider

Join Date: Jul 2015
Location: Caribbean
Boat: VZ 16
Posts: 86
Re: Boat taxes in US

Quote:
Originally Posted by jmschmidt View Post
Where was your boat built? Some boat-building countries' (like South Africa) products are duty exempt when reflagging to US.
It was built in Italy
__________________

__________________
Jack_Sparrow is offline   Reply With Quote
Reply

Tags
taxes

Thread Tools
Display Modes Rate This Thread
Rate This Thread:

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
Taxes for Buying Second Hand , VAT Not Paid , Boat in Martinique YesIsail Multihull Sailboats 59 02-04-2013 06:23
Various Boat Taxes In Training Rules of the Road, Regulations & Red Tape 34 13-06-2012 09:55
Taxes to Import Boat into US tilmonday Multihull Sailboats 5 08-02-2012 14:11
Puerto Rico Boat Registration & Taxes janetc Rules of the Road, Regulations & Red Tape 1 20-05-2011 15:30
Buy Boat in Fiji - Extra Taxes and Costs ? marley Dollars & Cents 1 09-05-2009 03:12



Copyright 2002- Social Knowledge, LLC All Rights Reserved.

All times are GMT -7. The time now is 13:48.


Google+
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.
Social Knowledge Networks
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2017, vBulletin Solutions, Inc.

ShowCase vBulletin Plugins by Drive Thru Online, Inc.