Found this link on The Hull Truth. Thought it could benefit members on this site. Really good read!
As a firm that deals with Florida sales and use tax controversy almost every day of the week, it is not too often that we bump into FL sales and use tax issues that we have not already dealt with. So when we get a call from a taxpayer that has novel issue, we tend to get a little excited. Just…
Cheers
Note on purchasing a used boat:
Florida wants you to pay tax on the hull (ie the HIN #) This does not include the trailer, accessories options, etc. so when you either go to the tax office or complete your bill of sale with the seller, make sure to itemize the hull’s agreed upon value, less than the price of the entire package.
For instance if I sold my Cayo for 30k. The hull was valued at 10k. So they buyer pays taxes on 10k not 30k
Georgia doesn’t execute a sales tax on sales from an individual. I’m not sure how “new” sales are taxed. Taxes on a boat are collected yearly as a part of your property tax, and county tax assessors assign an amount for the tax. The county is notified by the state when a boat is registered, and that boat stays on your property tax until you notify the county tax office that you no longer own that boat. The notification from state to county has all the information for the county assessors to make a “reasonable assessment” of the boat, motor and accessories.
Boats, canoes, kayaks with no means of mechanical propulsion do not have to be registered and are are taxed if the county government somehow finds out about it. Sailboats less than 12feet are also exempted from registration.
Motors, electronics and other additions are considered part of the boat and taxed as added value.
Trailers are taxed when you buy your tag. I’m not sure how they are valued, only that ad valorem taxes are collected with the tag.
