Private Party sales tax

[kywest]

Alright guys, I am terribly sorry if this has been discussed but I could not find anything. Here's the deal... I acquired a boat frommy grandmother when my grandfather died. Due to crabby aunts it was better to buy it then be given it. Its an Iowa boat coming into MN. I looked to see what sales tax on watercraft was and found that in MN, you only have to pay the sales tax on the trailer. This doesn't seem at all correct but I can't find an answer other than that. Does anyone have any insight for me on this? I'd like to have the right info and paperwork before I go in to get it licensed and transfer the title. Thanks guys

[diederich06]

All you will need to dois pay sales tax on the value of the trailer, as long as its being registered n MN. Iowa is different,there's sales tax on the boat/trailer.

[kywest]

Thanks. Thats what I thought but like I said, I didn't want to show up there with the wrong info. Thanks again

[tolle141]

If you want another confirmation, I just bought a boat (private party) and all i paid taxes on was the trailer.

[yaggie]

And in Minnesota trailers are worth very little!

[kywest]

Thanks for the help guys. The last question I have on this is when I go in to get it registered and transferred and all that, am I correct in that the only things I should need are the bill of sale that lists the price of the boat as well as the price of the trailer and then the boat title?

[LoonASea]

Have the make and model of the trailer and serial number if its readable I was asked for the trailers weight capacity also ,,,, I did have a bill of sale for my boat motor and trailer and had to make a return trip with a separate bill of sale for the trailer only

[kywest]

Thanks for all the help guys. I really appreciate it. Gonna go hopefully get it all done tomorrow.