Fall classified boat ad listings are starting to pour in on Boatline.com, attracting boat buyers eager to spend next year on the water. Whether you’re buying your first boat or trading up to a bigger, more luxurious model, don’t forget about taxes and registration fees when calculating the total cost of your boat purchase. Sales taxes, use taxes, registration fees and tax credits for boats purchased in another state vary from state to state. Many states also require that boats be registered within a set number of days after the sale. Miss the deadline and you might have to pay an additional fee.
National boat owners’ association Boat U.S. has created a handy state-by-state guide to state boating tax and registration requirements. With a couple clicks of your mouse, you can quickly access boat tax and registration information for any state with helpful links to the proper websites. Individual state sites also provide the following useful information:
- Rate of state sales and use taxes
- Registration grace period
- Whether you can claim a state income tax credit for tax paid to another state if you purchase an out-of-state boat
- Whether a state decal is required
- Whether boat titles are issued
- Any special requirements unique to that particular state such as sales tax caps and county or municipal registration requirements
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Tags: boat buying tips, Buy Boat Online