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Out of state boat purchase and taxes?

apegs

By apegs
in Bass

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Raider4ever Mentor

Raider4ever

Posted
Posted

Bass N Spear is absolutely correct. If you buy a boat from a private party, you pay tax ONLY on the value of the trailer. You buy from an out-of-state dealer, you pay their tax on the whole shebang, THEN on the trailer value when you get home. I found this out a few years ago when I bought one from a guy down in Hastings. Got back up to the county building at home with a wad of cash figuring I was paying taxes on the whole enchilada. The VERY nice lady at the counter said they only tax the trailer. Needless to say, I was very happy and went and had a VERY nice lunch.

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Pherris Mentor

Pherris

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Check with your local DMV office. They are not all on the same page on this. I have purchased 2 boats both from dealers out of state and did the paperwork at 2 different DMV Offices and both handled tax completely different. How the dealer invoices you for the boat can also play a role. At least it did in my experience. Both my boats were new and had never been titled.

Good Fishing!!

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Raider4ever Mentor

Raider4ever

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Big difference between dealer and private party. That's why you paid tax on the entire purchase. If you purchase a boat from a private party (i.e. non-dealer), you are taxed solely on the stated value of the trailer.

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sheepheadslayer Rising Star

sheepheadslayer

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if purchasing from a dealer just have them right it up as a bill of sale. If the state you are purchasing from doesn't require tax on a used boat they will have no problem doing this. Also if it is used the title of the boat is probably still in the previous owners name and you can just take that to the dmv as a buying from the private party.

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Raider4ever Mentor

Raider4ever

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I also bought a boat from a private party last Fall and will have to transfer ownership before open water. How do they come up with a value on the trailer, do they have a book value or something?

Yes they do. I think it was in a part of Kelly Blue Book online or something. Since I was financing it, the credit union loan exec. did the leg work. If you are taking out a loan, have your financial institution print it out for you. If you are not financing, find out the brand; year; and model number of the trailer and google "trailer book value".

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Jeff13 Community Regular

Jeff13

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I have bought two boats from out of state. Considering the value of the trailer both DMV's I went too just asked me "what do you think the trailer is worth" I gave them a number and paid the tax on that. I'm sure they handled that wrong but it worked for me.

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CASTnBLAST Community Regular

CASTnBLAST

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The book values are quite vague (don't even ask for manufacturer) as opposed to looking up an automobile price but maybe the DMV has a more detailed approach. Guess I will have to wait and see what they come up with. Irregardless it's better than paying tax on the whole package as from a dealer.

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shiltsy Community Regular

shiltsy

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DMV offices are definitely not on the same page with this. Two years ago, I purchased my skeeter on hsolist from a smaller dealer in Indiana. When I registered up here they only charged me for taxes on the trailer. A week later I got a letter that they made a mistake and I need to pay them another $1k. I already had my registration tabs and I never heard another word about it. Something tells me my renewal this spring might be a challenge!

Hopefully the DMV is screwed up enough to not be able to track and follow up on their own mistake.

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shiltsy Community Regular

shiltsy

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Grr... Have I mentioned how ridiculous it is that I can't use the word e B a y on this forum? Great forum with great people, but the layout, ads, word replacement and horrible navigation really get old.

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