derekdeben

Looking for some info. on taxes. Trying to understand the use tax vs. sales tax. It looks like boats and cars have an annual property tax.

$150,000 boat would be $15K in taxes the first year? Then is based on the value as it depreciates year over year. Is this correct? It appears there is no sales when you purchase?

Thanks,

Derek

clearcut3

In SC sales tax on boats, motorcycles, cars, etc.. are capped at $300 max...so there is virtually no sales tax.

Property taxes they can hammer you on. If you are moving from out of state and the boat is documented in another state that doesn't have boat property taxes, there are none

If you buy the boat while a resident of SC and then document it they are good at tracking people down. I know someone who actually had the county tax representative go to his parents house trying to track his boat down

Property taxes in SC are totally dependent upon the county you live in so it can vary greatly.

Reckless32

I'd say document before going down if not already, then go forward blissfully ignorant.