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Buying a used boat, sales tax question
Posted on 9/6/16 at 7:17 pm
Posted on 9/6/16 at 7:17 pm
Has anyone been able to successfully get around the new sales tax. I've heard about registering your boat in another state but is there a downfall? Has anyone actually been successful in this or another method? Please help, it could be the difference in me buying and not buying a boat.
Edit: It is an in state boat and is over 10 years old.
Edit: It is an in state boat and is over 10 years old.
This post was edited on 9/6/16 at 7:25 pm
1
Posted on 9/6/16 at 8:38 pm to djrunner
In state and over 10 years old is exempt from the tax. You just have to bring the bill of sale and previous owners registration to LDR (or do it by mail) and they will sign off on the form you bring to LDWF.
go to the LDR website and download the pdf, have it filled in before you go.
source- just did it last week.
go to the LDR website and download the pdf, have it filled in before you go.
source- just did it last week.
This post was edited on 9/6/16 at 8:39 pm
Posted on 9/6/16 at 9:13 pm to diplip
Dip, Did I read in another thread that there was a tax on the trailer?
Posted on 9/7/16 at 8:08 am to djrunner
quote:
Dip, Did I read in another thread that there was a tax on the trailer?
Yep. Regular sales tax. You will need the title. On the back of the title there will be a bill of sale that you will need to have notarized. You will pay full sales tax on the amount stated on the bill of sale.
Same thing for the hull. You will need the title which is the same as the trailer title as it contains a bill of sale on the back.
Posted on 9/7/16 at 8:48 am to Barf
quote:
notarized
Please have a notarized bill of sale. I would suggest separate bills of sale for trailer and boat and notarize each.
If you have them all on the same bill of sale, go ahead and sign/notarize two.
while it isn't necessary for the boat, it is for the trailer and will make your life easier if you decide to sell later.
Posted on 9/7/16 at 8:51 am to stewie
quote:
while it isn't necessary for the boat, it is for the trailer and will make your life easier if you decide to sell later.
How? Why? The back of the title IS the bill of sale. The DMV will not ask for a bill of sale, neither will WLF. They only care about the notarized title.
Posted on 9/7/16 at 9:00 am to Barf
quote:
How? Why? The back of the title IS the bill of sale. The DMV will not ask for a bill of sale, neither will WLF. They only care about the notarized title.
In LA, boats don't require a title. You can pass ownership by a bill of sale.
However, the trailer is required to have a title.
I've seen (many times) people selling both the trailer and boat on a bill of sale (boat did t have a title). They had two witnesses and signitures from both parties but it wasn't notarized.
The DMV wont issue a new title on the trailer because it wasn't notarized.
Not only that, each state has different requirements. Some do require a notary, some do not.
If the boat and trailer have a title, then yes, the back can act as a bill of sale ... Just go to a notary and you would be good in just about any state.
If the boat doesn't have title or if you want a paper bill of sale, just go to a notary.
You are right that LDWF won't ask for a bill of sale of you have a title on the boat - most boats in LA don't have a title.
This post was edited on 9/7/16 at 9:02 am
Posted on 9/7/16 at 9:03 am to stewie
quote:
In LA, boats don't require a title. You can pass ownership by a bill of sale
Wrong. I stopped reading here. This could not be more wrong.
Posted on 9/7/16 at 9:31 am to Barf
quote:
Wrong. I stopped reading here. This could not be more wrong.
Barf - what's your deal?
For the longest time LA didn't even offer titles.
If my memory serves me right, all banks will require it for a lien (and that might be state law also).
However, it wasn't required for used boat sales. I was down at LDWF with family a few months ago when there was a transfer of a boat (without title) within the family and they asked if we wanted to purchase a title.
I asked if it was required (specifically) and we were told no. I suggested it and they purchased a title.
Now as far as taxes, a lot has changed in the past year and I'm not totally familiar with it nor when those changes go into effect.
This post was edited on 9/7/16 at 9:40 am
Posted on 9/7/16 at 9:35 am to Barf
quote:
In LA, boats don't require a title
quote:
This could not be more wrong.
I wouldn't take it to the bank, but it's my understanding that he's right. LA does not require a title on a boat, just "proof of ownership" which may be a current registration and notarized bill of sale.
Posted on 9/7/16 at 9:51 am to TheDrunkenTigah
quote:
LA does not require a title on a boat, just "proof of ownership" which may be a current registration and notarized bill of sale.
You can not get registration from WLF without a title unless it's a new boat that has never been titled.
Posted on 9/7/16 at 9:58 am to Barf
quote:
You can not get registration from WLF without a title unless it's a new boat that has never been titled.
I'm not sure about that.
Example - how do you buy boats from out of state that don't require title.
I bought a boat from South Carolina about five years ago and it didn't have a title (SC also didn't require a title).
To prove ownership, I had to provide a bill of sale from the dealership to the first owner and then a bill of sale from the first owner to the second owner (me).
Again, I was asked if I wanted a title (which I said yes) and paid the extra $$ (and again, I asked it if was required and they said no). I just had to sign an affidavit stating there wasn't a lien on the boat in another state.
Now as far as the tax issue for the OP - I didn't have to pay taxes on the boat because it was an out of state cash transaction. I had to go to LA Dept. of Treasury and the parish tax collector to sign a form stating I didn't have to pay taxes and bring that form to LDWF.
This post was edited on 9/7/16 at 10:01 am
Posted on 9/7/16 at 9:58 am to stewie
quote:
I was down at LDWF with family a few months ago when there was a transfer of a boat (without title) within the family and they asked if we wanted to purchase a title.
True but that is not the same as buying a used boat. They are able to prove chain of ownership without the title, something you can not do without a title on a private sale.
If you come to my house, and buy my boat, you can not get it registered without the title.
The certificate of origin and original bill of sale is required to title a boat. A kayak is a good example. If you wanted to put a trolling motor on your yak, you would need to get it registered with wlf. To do this you will need the certificate of origin and bill of sale from the dealer. If bought privately, the only way to get a title is to have both the CO and the original bill of sale from the dealer that shows chain of ownership.
Posted on 9/7/16 at 10:02 am to Barf
quote:
something you can not do without a title on a private sale.
That's why there is a bill of sale. Again, LA didn't offer titles on boats for a LONG time. Most boats don't have titles to them.
Posted on 9/7/16 at 10:06 am to Barf
quote:
You can not get registration from WLF without a title unless it's a new boat that has never been titled.
I think you might be confused on this. A used boat that has a current registration can certainly be registered in your name with a notarized bill of sale. As someone pointed out, for years LA didn't even title boats, just issued registration using the HIN and invoice if new or bill of sale/previous registration if used.
Posted on 9/7/16 at 10:07 am to stewie
quote:
That's why there is a bill of sale
A bill of sale is not proof of ownership, only proof of sale.
If the boat was registered in Louisiana you could have the owner go with you to WLF with their registration paperwork and prove ownership, only then can you get registration without a title. You can then purchase a duplicate title after the transfer to avoid having to all that over again.
Also original paperwork from the dealer as well as bill of sale can be used as proof of ownership.
There is a jon boat in the pond at my camp that we can not get titled to use in the river because we can not prove ownership. No title or certificate of origin exists. I can sign and notarize a bill of sale all I want but whomever buys the boat will never be able to title it in Louisiana.
This post was edited on 9/7/16 at 10:12 am
Posted on 9/7/16 at 10:11 am to TheDrunkenTigah
Can someone just explain the steps to take in order to sell a used boat? Buyer and Seller both live in Louisiana.
Posted on 9/7/16 at 10:16 am to cwarr14
quote:
Can someone just explain the steps to take in order to sell a used boat?
Do you have the title to the hull and trailer? If yes, simply sign and notarize the bill of sale on the back of each title. Done.
If you don't have the title to the hull, but have current registration, you must go down to WLF with the buyer and transfer ownership. Or buy a duplicate title, and transfer it that way.
If you have current registration but no title, you may be able to provide the current registration paperwork along with your ID and have all that notarized. Maybe that will satisfy proof of ownership.
Posted on 9/7/16 at 10:18 am to Barf
quote:
A bill of sale is not proof of ownership, only proof of sale.
Correct, it's proof that a sale occurred AND that ownership was transferred (when it coincides with transfer of possession - to make it rock solid). In LA, titles do not convey ownership, they are merely documents for record or evidence of ownership (from the LASC).
Barf, take the simple advice or leave it.
I was simply offering a suggestion to the previous poster so they don't encounter potential roadblocks ahead.
This post was edited on 9/7/16 at 10:24 am
Posted on 9/7/16 at 10:27 am to stewie
quote:
Barf, take the simple advice or leave it.
Advice from who? You? No thanks. I've bought and sold lots of boats, I know what I am talking about.
quote:
I was simply offering a suggestion to the previous poster so they don't encounter potential roadblocks ahead.
Your suggestion was a shitty one. You need more than a bill of sale.
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