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Used boat from Florida - Taxes etc?
Posted on 8/19/20 at 1:50 pm
Posted on 8/19/20 at 1:50 pm
Say I find a used boat from in Florida being sold by a dealer for $60K. What will I actually have to pay?
$60K + 4.45% sales tax + ???
$62,670 plus what?
$60K + 4.45% sales tax + ???
$62,670 plus what?
3
Posted on 8/19/20 at 2:05 pm to Neauxla
you will pay the tax rate of your residence
Posted on 8/19/20 at 2:05 pm to Neauxla
From a dealer, you will pay the tax for your municipality or parish on the purchase price.
From an individual, even if it is brokered, you pay no sales tax on a used boat.
From an individual, even if it is brokered, you pay no sales tax on a used boat.
Posted on 8/19/20 at 2:07 pm to tigerdup07
quote:
you will pay the tax rate of your residence
Florida allows you to itemize boat, trailer and motor(s) which will allow you to claim only the hull on your Bill of Sale.
What you claim on your Bill of Sale is what will be used for the taxes you'll pay in your city/state of residence. Use this information wisely as they like to find people trying to play games.
Posted on 8/19/20 at 3:32 pm to Neauxla
4.45% state sales tax + your parish sales tax ( State+Parish rates)
From Louisiana Dept. Of Revenue
"if you are to pay the sales taxes in the state you are making the purchase you will receive credit towards your Louisiana sales tax due. If the sales tax rate collected is not enough to cover your state & local sales tax, you will pay the difference to your parish office"
The dealer should be able to work with you and either give you the option to pay their sales tax or Louisiana. Some will offer that option and some won't. From my shopping experience this past spring.
From Louisiana Dept. Of Revenue
"if you are to pay the sales taxes in the state you are making the purchase you will receive credit towards your Louisiana sales tax due. If the sales tax rate collected is not enough to cover your state & local sales tax, you will pay the difference to your parish office"
The dealer should be able to work with you and either give you the option to pay their sales tax or Louisiana. Some will offer that option and some won't. From my shopping experience this past spring.
This post was edited on 8/19/20 at 3:58 pm
Posted on 8/20/20 at 9:29 am to dandyjohn
quote:
Florida allows you to itemize boat, trailer and motor(s) which will allow you to claim only the hull on your Bill of Sale.
What you claim on your Bill of Sale is what will be used for the taxes you'll pay in your city/state of residence. Use this information wisely as they like to find people trying to play games.
Trailer-10K
300 Yamaha - 30K
Hull - 20k right?
Who is "they"?
Posted on 8/20/20 at 9:40 am to Neauxla
quote:
Who is "they"?
Just kidding.
You only really need to itemize if buying used from an individual. You will only pay tax on the trailer. Itemize and buy your boat for $30k, motor for $29,950, and trailer for $50.
If you are buying a $60k boat (used or new) from a dealer, plan for about $6k in taxes.
This post was edited on 8/20/20 at 9:44 am
Posted on 8/21/20 at 10:20 am to jmorr34
quote:
You will only pay tax on the trailer
Not true. I went through this about 2 years ago. Bought boat out of Florida and registered it in Louisiana. I had to pay state and local tax on everything in order to get it registered with WLF. Florida required me to send them proof that I registered it and paid taxes in another state in order to not pay Florida taxes. Certain days of the week WLF will have someone there from the dept of revenue and motor vehicles. So, as long as you pay your local taxes before you go, you can take care of everything else in one trip.
Posted on 8/21/20 at 11:10 am to shadowlsu
quote:
Not true. I went through this about 2 years ago. Bought boat out of Florida and registered it in Louisiana. I had to pay state and local tax on everything in order to get it registered with WLF. Florida required me to send them proof that I registered it and paid taxes in another state in order to not pay Florida taxes. Certain days of the week WLF will have someone there from the dept of revenue and motor vehicles. So, as long as you pay your local taxes before you go, you can take care of everything else in one trip.
Did you buy from a dealer or an individual seller? My comment about only paying taxes on the trailer was regarding itemizing when buying from an individual.
If you bought from an individual seller and paid taxes on your boat/motor, I am sorry for your loss.
This post was edited on 8/21/20 at 11:13 am
Posted on 8/21/20 at 11:31 am to jmorr34
It was an individual, but a broker handled the paperwork. So, that might have been my issue. I remember calling to get clarification and was told if La sales tax was never paid on the boat then it has to be paid. The no sales tax statute is only for sale from a La resident to a La resident.
Posted on 8/21/20 at 11:33 am to shadowlsu
quote:
It was an individual, but a broker handled the paperwork. So, that might have been my issue. I remember calling to get clarification and was told if La sales tax was never paid on the boat then it has to be paid. The no sales tax statute is only for sale from a La resident to a La resident.
I bought my used boat in May from Minnesota. Showed proof that the original owner paid taxes when he purchased. Got stamp of approval from Louisiana Dept. of Rev and parish authority that no taxes were required. Maybe it had to do with your broker, not sure. My used is also financed.
This post was edited on 8/21/20 at 11:35 am
Posted on 8/21/20 at 11:39 am to shadowlsu
quote:
It was an individual, but a broker handled the paperwork. So, that might have been my issue.
I see this so its possible your sale wasnt considered isolated/occasional
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