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Old 22-11-2011, 19:56   #1
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Taxes and Regulations . . .

Hello,

I'm in the process of purchasing a 37' Dehler 1983 and I'm wondering were I should register, title, and pay tax on my new (to me) Boat. I currently live in Upstate NY and looking to set sail for about 3 months in March. Afterward would doc her in Florida or close by depending on funds. I'm purchasing this boat from a man that lives in GA and pays Use tax and 4% sales tax. He says hes willing to work with me on the tax side to help me out. So does anyone have any suggestions?

Thank you

Matthew
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Old 22-11-2011, 20:32   #2
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Re: Taxes and Regs...

Answer depends on a few things.

1. Where is your permanent residence or mailing address if you go cruising?

2. Where is the boat currently?

3. Will you keep it there after you buy it? If yes, for how long?

4. Where will you keep the boat permanently or at least until you go cruising?

5. How much hassle are you willing to go through to save money on sales and use tax? Warning, if you don't comply exactly with the rules or get caught trying to circumvent the rules it could cost you anyway, maybe a penalty as well.
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Old 22-11-2011, 21:55   #3
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Re: Taxes and Regs...

I am familiar with some states sales tax laws, having worked as an auditor for one state. I no of no state use tax that is transferable. Be careful with the answers you will receive from a forum which naturally hides the real experience of the people that are telling you how to spend your money.

Contact a "Yacht Registration" agent in Florida...Google it, you will find plenty. Call one or more of them and explain your situation...they will give you the experienced answer that you need.

Bill
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Old 22-11-2011, 22:17   #4
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Re: Taxes and Regs...

You should definitely take care in following advise on this or any forum as it is your boat, money and risk, not that of the person replying. I do think you can get good, accurate advise based on real knowledge and experience but always best to verify it yourself.

I for example, have dual residence in FL and RI, purchased a boat in NY, USCG documented and RI state registered the boat, kept the boat in RI, CT and now FL. I did manage to do all this without paying an agent to handle any details. However, before going through the process I very carefully researched pertinent sales tax and use tax laws in all the states involved, including copying sections of the various state laws as published on the state web sites and made several follow up phone calls to the tax offices and boat registration offices in FL and RI. The research was mainly focused on the New England regs as I was a yacht broker in FL and have dealt with the FL tax issues on a regular basis.

I feel pretty confident I can offer an accurate opinion on FL and RI and from what I have learned about other states on the east coast they do seem to have very similar laws.

It is not really that complicated and I was able to find all the information I needed online. Just takes a little time and patience translating government speak into English.
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Old 23-11-2011, 22:11   #5
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Re: Taxes and Regulations . . .

Dual State residency is not allowed in the US. Think about it. If you had dual residency you could vote in 2 states since voting certification is a state responsibility. Most states get very picky about this claim when it comes to tax assessment. I know...I was an auditor with one state. One other state that I am familiar with has a tax law which states that "if you reside outside of (state name), but feel in your heart that you are a (state member), you owe state taxes and are required to report..." BTW, if "in your heart" you were liable for taxes, and if your residence was elsewhere, then you legally owe both states!

Again, seek expert advice outside of on-line forums. In seeking advice you will be able to go through a series of what-if scenarios...some you have already identified and some the agent may identify for you. Talk to more than one agent before you settle on the one that you feel is best for you.

Bill
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Old 24-11-2011, 06:25   #6
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Re: Taxes and Regulations . . .

Greetings and welcome aboard the CF, Matthew.
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Old 25-11-2011, 06:26   #7
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Thank you for the welcome and hope all had a happy thanksgiving. Currently the boat is located on dry dock in Georga. The previous owner paid for the next 3 months of storage so im taking that time to sand and do a complete exterior paint job. Then I plan on launching her on my 30th birthday in March.
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