Flagging a boat in a foreign country
 

Can you avoid sales tax and intangible taxes by purchasing and flagging
a boat say in the Carribean vs the US?

Flagging a boat in a foreign country
 

yes

========
"jaybird" wrote in message
ups.com...
Can you avoid sales tax and intangible taxes by purchasing and flagging
a boat say in the Carribean vs the US?

Flagging a boat in a foreign country
 

"jaybird" wrote in message
ups.com...
Can you avoid sales tax and intangible taxes by purchasing and flagging
a boat say in the Carribean vs the US?

Yes. I believe there's a time restriction involved... 90 days if my memory
serves. I don't believe you have to flag it elsewhere.

--
"j" ganz @@
www.sailnow.com

Flagging a boat in a foreign country
 

Depends on the state....

There are LOTS of closings in Bimini due to Florida taxes... Only
problem, once you bring it back for more than a few months you owe USE
tax (6%...same as sales tax) The boat has to stay out of the US and
out of FL for most of the year. If you plan to use the boat mostly
out of the states then it may work for you if not, it's more expense
than it is worth.

There are also other tax loopholes for domestic use. For Florida, if
you are a resident and own and use a boat in another US state for 6
months and you paid tax in that state (if applicable) then no state use
tax is due when you bring it to Florida.

Most state's web sites explain it.





Capt. JG wrote:

"jaybird" wrote in message
ups.com...

Can you avoid sales tax and intangible taxes by purchasing and flagging
a boat say in the Carribean vs the US?


Yes. I believe there's a time restriction involved... 90 days if my memory
serves. I don't believe you have to flag it elsewhere.

Flagging a boat in a foreign country
 

"jaybird" wrote in news:1155482028.960299.312280@
75g2000cwc.googlegroups.com:

Can you avoid sales tax and intangible taxes by purchasing and flagging
a boat say in the Carribean vs the US?



Sure. The incredibly rich have all their monster yachts flagged in the BVI
that come to Charleston. They don't leave them in one place long enough to
attract the tax bureaucrats' attentions....plus, of course, the
billionaires have batteries of lawyers and accountants they'd have to fight
for years to get a dime......making it unprofitable to persecute them.

Isn't that what the lawyer class lives for?

I'd bet Jimmy Dean or Gene Reed's law firms could bankrupt most any
county....

Flagging a boat in a foreign country
 

In Larry writes:

"jaybird" wrote in news:1155482028.960299.312280@
75g2000cwc.googlegroups.com:

Can you avoid sales tax and intangible taxes by purchasing and flagging
a boat say in the Carribean vs the US?



Sure. The incredibly rich have all their monster yachts flagged in the BVI
that come to Charleston. They don't leave them in one place long enough to
attract the tax bureaucrats' attentions....plus, of course, the
billionaires have batteries of lawyers and accountants they'd have to fight
for years to get a dime......making it unprofitable to persecute them.

Of course they have paid crew to move the boat from place to place so
that they can avoid taxes. Perhaps the crew will avoid income taxes as
well.

Isn't that what the lawyer class lives for?

Of course it is good busines to pay a lawyer 10 dollars to avoid paying
Oncle Sam one dollar.

I'd bet Jimmy Dean or Gene Reed's law firms could bankrupt most any
county....

Why should they do that?

- Lauri Tarkkonen

Flagging a boat in a foreign country
 

Flagging a boat in a foreign country
 

jaybird wrote:
Can you avoid sales tax and intangible taxes by purchasing and flagging
a boat say in the Carribean vs the US?

It depends on the state. The excise tax in MA is owed regardless of
where the vessel is flagged. However, for a new 60+ foot boat the
bill is only $500, and for a more typical boat its under $200. In MA
you can avoid the sales tax by keeping the boat in Rhode Island for 6
months. However, there are some states that will collect the sales
tax (they call it a use tax) if you can't show that you paid it elsewhere.

On the other hand, foreign flagging must be an open invitation to the
CG to "Board Me!"

Flagging a boat in a foreign country
 

In Larry writes:

(Lauri Tarkkonen) wrote in news:ebnr1r$lnk$1
:

I'd bet Jimmy Dean or Gene Reed's law firms could bankrupt most any
county....

Why should they do that?



The point was that the POSSIBLITY of any action against someone BIG would
be the action might FAR exceed and revenues gained from the
action....making the action "less attractive" to the bureaucrats involved
than going after small people without the huge law firms.

What do income, real estate, sales, VAT and boat taxes look like in
Finland?....

I guess we pay higher taxes than what you do in the U.S., but we know
that there is nothing called free lunch. We have one of the better
educational systems and our medical care is on a high level we spend a
reasonable amount in army and because the expenditure is sanctioned by
the parliament choosen by the people.

We do not have a special boat tax, but boats are property like any other
property and there is a property tax, but that is not very high. Most
people do not even know what it is, as it is so neglible.

How much does gasoline cost? What part of that is taxes?

Gasoline costs at the moment some 1.3 Euros per litre and there is tax
some 54% of that.

Just interested as our fuel triples in price in just a few years....

The more mess you are making in the middle east, the more the oil price
will go up. But anyway, every fellow making tricks to avoid taxes due to
him makes the rest of us pay even his share.

- Lauri Tarkkonen

Flagging a boat in a foreign country
 

jaybird wrote:
Can you avoid sales tax and intangible taxes by purchasing and flagging
a boat say in the Carribean vs the US?



Some folks do their best to escape their democratic elected tax laws.

In Oregon both WA and CA residents do their covert best to register
their boats/cars in Oregon. I have a 39' boat and up to a couple years
ago my state boat registration was $35. I think it is up to over $150
for two years now. Cant remember I just close my eyes and write the
check.

Contrary to ordinary, I know that the owner of a popular west coast
sailing magazine who lives in CA and operates his business there for
some strange reason had his boat registered in Oregon?!? Go figure?

I suggest searching the state boat registration sites and become a
resident of that state most beneficial to your needs. Heck, Bush the
First did that. Lived in DC and the NE while claiming to be a TX
resident. I guess if you have enough houses you can be a resident most
any place.

Bob