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Old 03-12-2018, 14:28   #1
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Join Date: Feb 2014
Location: Fort Myers Beach, FL USA; Boston, MA USA
Boat: C&C Landfall 43 and O'Day 35
Posts: 78
Sales tax on sale of part ownership

I saw a thread posted about taxes and thought I'd ask this question. I currently own a boat with a friend titled in IL. I have since moved to NH, and my friend is looking to sell his half to my girlfriend (first mate). We will be moving the boat to Boston MA. Does anyone have any info on tax implications? Given that we are moving the boat to a marina in MA and intend to keep it there for at least a year, I know we have to register it. My question is: what is the most advantageous way with respect to taxes and fees to sell the boat? Move it to MA and affect the sale there so we can retitle at time of registration? Or sell in IL, get the new title, and then move and register it. IL has a huge sales tax and I'm not sure how a half ownership works; I assume it is like any other sale. We're looking at the sale price of around $15000 for her share. I'm a "by the book" kind of guy and want to do things right, but I also would like to make the best decision if there are two "right" ways to get the boat to MA and registered. I very much appreciate any input. Thanks!
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ownership, sale

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