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| A friend recently bought a boat and the question is: Do you pay taxes on just the boat or the entire sale? He has a bill of sale written out with each item priced individually. |
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Posts: 13688
Location: minocqua, wi. | the itemized part is likely for the insurance company ... boat purchase tax includes all the stuff and if used then it's what you "say" you paid for it to get it registered. some play games with that number when buying used, not worth getting stung IMO. |
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Posts: 2378
| in MN i believe i only had to pay on the trailer...this was a used purchase |
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| so if the price is increased because the boat came with a used depth finder, trolling motor, and some extra fishing stuff, you have to pay state tax on that part too? |
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| Guest - 1/18/2013 10:16 AM
so if the price is increased because the boat came with a used depth finder, trolling motor, and some extra fishing stuff, you have to pay state tax on that part too?
Sales tax can get complicated and differs state to state (some items for business may not be taxable) but in your example - I bet you technically owe sales tax on the entire purchase, check with your state - they will be happy to let you know what you owe  |
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Posts: 489
| Only pay on what you register. Trick, my state requires boat and motor registration. I have a 200 hp and a 9.9 kicker. In my state you don't register anything under 10 hp. Total price of my boat was 16,000 my boat was 2000, my big motor was 2000, and I paid 12000 for my kicker;) |
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| In Ohio if your big motor is stolen good luck getting insurance to pay what you think it is worth and not what you claimed for taxes |
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Posts: 489
| Haha that would stink |
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