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Boat and trailer registration questions.
Posted on 11/20/12 at 9:20 pm
Posted on 11/20/12 at 9:20 pm
I am buying a used boat and trailer from a guy who has both registered. This is my first boat purchase. Do I need separate notarized bills of sale for both the boat and trailer? Do I even need a bill of sale for either as long as I have the previous owner's registration papers?
I know this has been discussed here before, but help me out please.
I know this has been discussed here before, but help me out please.
5
Posted on 11/20/12 at 9:24 pm to feedthepig20
Should be the same as buying a car for each one separately
Bill of sale
Title transfer
Registration
All notarized I am guessing
Bill of sale
Title transfer
Registration
All notarized I am guessing
Posted on 11/20/12 at 9:29 pm to feedthepig20
I think you only pay taxes on the trailer if seller and purchaser are both in Louisiana. Somebody will correct me if I'm wrong but you can devalue the trailer on the bill of sale keeping your taxable purchase to a minimum. I knew a guy one time that was considering this 
Posted on 11/20/12 at 9:30 pm to feedthepig20
You need at least a Bill of Sale for the Boat. Boats aren't titled in LA. They're only registered with Wildlife & Fisheries.
Trailers are titled and registered with the DOT. You'll need the title for the trailer. He signs the back in the "seller" spot and you sign the "buyer" spot. The signed title acts as bill of sale but you can also do a bill of sale for it or include it in the bill of sale of the boat.
Trailers are titled and registered with the DOT. You'll need the title for the trailer. He signs the back in the "seller" spot and you sign the "buyer" spot. The signed title acts as bill of sale but you can also do a bill of sale for it or include it in the bill of sale of the boat.
Posted on 11/20/12 at 9:32 pm to LouisianaChessie
quote:
Somebody will correct me if I'm wrong
If it's purchased out of state from a PRIVATE seller, you won't have to pay taxes but you'll still need to go to your local tax office and get a waiver of taxes in order to register it with DOT.
If it's in state you pay taxes on it at the point of registering it.
quote:
you can devalue the trailer
Most people do this in order to save a few $$$'s on taxes. Just don't devalue it so much as to draw unwanted attention from the "wonderful" people at the DMV.
This post was edited on 11/20/12 at 9:35 pm
Posted on 11/20/12 at 9:47 pm to cdaniel76
quote:Did this with my Tacoma. Bought it for $24.5k and only paid taxes on $4.5k
you can devalue the trailer
Posted on 11/21/12 at 7:50 am to feedthepig20
Boat and trailer can all be on one bill of sale just make sure they are seperate lines because you will only be taxed on the value of the trailer, and as other posters have said only value the trailer at $100 or so.
-Notorized bill of sale
-signed title
-Registration
-Notorized bill of sale
-signed title
-Registration
This post was edited on 11/21/12 at 7:56 am
Posted on 11/21/12 at 7:55 am to Ranger198
Down load the form for the boat from WL&F web page. The trailer you will have to have it notorized and pay taxes.
Posted on 11/21/12 at 8:10 am to cdaniel76
Bill of sale on each is always best, and a title on the trailer of course. Also the old registration on the boat, if it had a motor and was reg.
No. Someone at the office told my brother to do all of that so he did. I told him he didnt need to and about a month later when I purchased mine from FL I didnt do it. Got it titled with no prob.
quote:
If it's purchased out of state from a PRIVATE seller, you won't have to pay taxes but you'll still need to go to your local tax office and get a waiver of taxes in order to register it with DOT.
No. Someone at the office told my brother to do all of that so he did. I told him he didnt need to and about a month later when I purchased mine from FL I didnt do it. Got it titled with no prob.
Posted on 11/21/12 at 8:12 am to Hammertime
quote:
you can devalue the trailer
I did this, bought the trailer for $100.
Posted on 11/21/12 at 8:15 am to laangler21
quote:
you can devalue the trailer
Always do this. They never sale second hand for more than a bill.
Posted on 11/21/12 at 8:16 am to feedthepig20
As everyone said before, the boat is registered thru WLF and the trailer thru DMV.
The law recently changed where the seller can do a donation to friend on the trailer (or any vehicle). It used to be that you could only donate to a family member.
My dad just bought a boat from a guy in MS and had him donate the trailer. No taxes are paid on a donation.
2 months ago, I bought a used truck from a private party and did the same thing. Paid zero in taxes!
The law recently changed where the seller can do a donation to friend on the trailer (or any vehicle). It used to be that you could only donate to a family member.
My dad just bought a boat from a guy in MS and had him donate the trailer. No taxes are paid on a donation.
2 months ago, I bought a used truck from a private party and did the same thing. Paid zero in taxes!
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