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#1
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sales tax on used/new boat?
hello,
anyone in CA know if I buy a used/new boat out of state, will DMV charge me sales tax? Pretty substantial tax which affects my budget...thanks! Jim |
#2
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sales tax on used/new boat?
Of course. You may not need to pay tax on the value of the engine (if it's
an outboard), however. "jim" wrote in message ... hello, anyone in CA know if I buy a used/new boat out of state, will DMV charge me sales tax? Pretty substantial tax which affects my budget...thanks! Jim |
#3
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sales tax on used/new boat?
Jim;
The DMV will charge you 7-3/4% - 8.25% of the "sales price" on the bill of sale at the time of registration. Be ready! bob jim wrote: hello, anyone in CA know if I buy a used/new boat out of state, will DMV charge me sales tax? Pretty substantial tax which affects my budget...thanks! Jim |
#4
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sales tax on used/new boat?
Florida will exempt the cost of the outboard motor *if* your bill of sale
itemizes the boat, motor, and trailer. If California is the same, then look up the high retail of the outboard in NADA, and then back that price out of the total price of the boat and trailer. If it's an I/O or inboard, you can't do this. "fishinfoo" wrote in message ... Jim; The DMV will charge you 7-3/4% - 8.25% of the "sales price" on the bill of sale at the time of registration. Be ready! bob jim wrote: hello, anyone in CA know if I buy a used/new boat out of state, will DMV charge me sales tax? Pretty substantial tax which affects my budget...thanks! Jim |
#5
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sales tax on used/new boat?
jim wrote in message ...
hello, anyone in CA know if I buy a used/new boat out of state, will DMV charge me sales tax? Pretty substantial tax which affects my budget...thanks! You'll owe sales/use tax if you move the boat into CA within 180 days of purchase --- OK - I am not sure about the time limit. It may be 90 days... or maybe it used to be 90 days. Anyway, you have to be able to prove you kept *and used* out of state for the time period. You can't just store it out of state - you have show that you were using it wherever it was you kept it. Gas receipts or signed log entries often do it. If you finance any portion of the boat through a formal lender (like a bank, as opposed to your Uncle Bob) you probably won't be able lie to the DMV about it. Banks generally don't want to risk a tax lein on your collateral. I am going to make a comment. Yeah, we are taxed too much in CA. I paid 8.25% on my boat, and pay recurring property tax every year (to me, that counts as double taxing...), and you should too. Buy a smaller boat if you can't afford the 8+ percent. And thank Gray Davis and the reast of the jackasses in Sacramento for the fact sales and property taxes won't down anytime soon. |
#6
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sales tax on used/new boat?
It's 3 months. Have to show you used the boat out of state during the 3
months. They charge you difference between the sales tax you paid, and the local sales tax rate. If buying a real expensive boat, there are companies that assist you in the transaction and you dock the boat at the Coral Marina in Ensenada. Bill "Curtis CCR" wrote in message m... jim wrote in message ... hello, anyone in CA know if I buy a used/new boat out of state, will DMV charge me sales tax? Pretty substantial tax which affects my budget...thanks! You'll owe sales/use tax if you move the boat into CA within 180 days of purchase --- OK - I am not sure about the time limit. It may be 90 days... or maybe it used to be 90 days. Anyway, you have to be able to prove you kept *and used* out of state for the time period. You can't just store it out of state - you have show that you were using it wherever it was you kept it. Gas receipts or signed log entries often do it. If you finance any portion of the boat through a formal lender (like a bank, as opposed to your Uncle Bob) you probably won't be able lie to the DMV about it. Banks generally don't want to risk a tax lein on your collateral. I am going to make a comment. Yeah, we are taxed too much in CA. I paid 8.25% on my boat, and pay recurring property tax every year (to me, that counts as double taxing...), and you should too. Buy a smaller boat if you can't afford the 8+ percent. And thank Gray Davis and the reast of the jackasses in Sacramento for the fact sales and property taxes won't down anytime soon. |
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