Guests - If You want access to member only forums on HSO. You will gain access only when you sign-in or Sign-Up on HotSpotOutdoors.

It's easy - LOOK UPPER right menu.

Sign in to follow this  
Followers 0
fasternu

buyig a new boat

7 posts in this topic

I was recently told that if a person from Minnesota was to buy a boat from a private party (not a dealer), then they don' have to pay tax on it. Is this true? I'm not sure I trust this person, as I had been told that on atv's, snowmobies, etc you had to pay tax and title fees. Can anybody help me, as I'm looking at a pretty expensive purchase. Thanks in advance.

Share this post


Link to post
Share on other sites

If you buy a used boat you would pay tax on the value of the trailer only, not on the value of the boat, motors or accessories. The value on most used trailers is $100 to $1,000.

Share this post


Link to post
Share on other sites

What PJ said. Only taxes and transfer the lifetime trailer license to you. You do have to pay to register the boat if it isn't already. But no taxes on the boat itself, just the trailer.

Share this post


Link to post
Share on other sites

Enjoy it while it lasts .... with government tax revenues issues, It would not suprise me if we started to see private party used boat sales taxes (just like used cars when you xfer the title).

Didn't realize this when I bought my first used boat ... it was a pleasant suprise. More money left over for accessories and fishing stuff grin

Share this post


Link to post
Share on other sites

When I went to register my boat & trailer, the lady behind the counter asked me what I thought my boat trailer was worth... $100 she said.

I looked at her like she just insulted me.

I said "No, its got to be worth at least $600."

She said "Thats fine but you'll pay tax on whatever amount you tell me. $100 Right?"

I just smiled and thought what kind of operation do we run around here. Just too funny.

Share this post


Link to post
Share on other sites

Fasternu,

That is correct. When purchasing from a private party, there is no MN sales tax, just a $58 flat tax, regardless the value or year of the rig. Used is used. [Note from admin: Please read forum policy before posting again. Thank you.]

CB

Share this post


Link to post
Share on other sites

When you go to the DMV you say its a fixer upper and you got a good deal boat and trailer for 12 hundred bucks.

Share this post


Link to post
Share on other sites
Guest
This topic is now closed to further replies.
Sign in to follow this  
Followers 0