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Originally Posted by Love Machine
(Post 2524742)
Dudes! I just registered the Pantera TODAY and it's only 5%. I even asked her if it's 6% and she said no. It doesn't apply to boats.:cool-smiley-027:
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Originally Posted by TexomaPowerboater
(Post 2524706)
You are allowed to deduct the greater of state income taxes paid or sales taxes. There is a standard amount for sales taxes that varies by individual income levels and locations and you are allowed to tack on sales tax on "major purchases" (boat, car) to the standard amount.
We have the same with respect to the greater amount of state income tax vs. sales tax but we don't have the "standard amound for sales tax that varies by individual income levels and locations" part. |
Originally Posted by Panther
(Post 2524834)
Is that how it is in Cali?
We have the same with respect to the greater amount of state income tax vs. sales tax but we don't have the "standard amound for sales tax that varies by individual income levels and locations" part. Standard amounts by state http://www.irs.gov/pub/irs-pdf/p600.pdf see page 5. It says 2006, but its good for 2007. You get to tack on sales tax paid on major purchases to these standard amounts. |
Originally Posted by TexomaPowerboater
(Post 2525107)
Yes, but probobly not for your state income tax return.
Standard amounts by state http://www.irs.gov/pub/irs-pdf/p600.pdf see page 5. It says 2006, but its good for 2007. You get to tack on sales tax paid on major purchases to these standard amounts. |
Sales tax on 04 Gladiator $22,400
Yearly registration $1175 Trailer sales tax $1200 Trailer tag $70 Fuel tax 50 cents per gallon Income tax paid to earn enough to buy the boat in the first place: $80,000 |
Originally Posted by Love Machine
(Post 2523871)
Here in Maryland it goes like this:
- 5% sales tax - $2 title fee - $24 registration fee |
Here in VA, 2% sales tax with a maximum fee of $2,000
no personal property tax, and registration fees look like this. Registration of boat less than 16 feet in length $27 Registration of boat 16 to less than 20 feet in length $31 Registration of boat 20 to less than 40 feet in length $37 Registration of boat 40 feet in length or longer $45 Livery of up to 10 boats $27 Livery of more than 10 boats $21 Duplicate certificate/decal (per duplicate) $9 my boat i just registered last week, cost of boat $12.500 i walked out in about 15 min, paid $281 for all the above and now i am good for 3 years! :evilb: |
Originally Posted by Griff
(Post 2523936)
5.5% -7% sales tax depending on if you live in a city limit.
$15 for a title $65 registration fee every 3 years. No other personal property taxes That is assuming you don't USCG register it. If you register it USCG then all you pay is teh USCG stuff. You don't have to register it at all with the state or pay any taxes. When did Nebraska get rid of personal property tax? Last time I lived there, 1989 they had it :( At least on vehicles $78.50 for a 3 year sticker here in MN Oh, and then the trailer tag is extra as well :( |
OHIO is real cheap by comparison, 6-7% sales tax depending on the county, if you document then you aviod that, tag for the trailer is maybe $40 bucks a year.
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No personal property tax in NJ but I pay over $10K on my 2 bedroom house every year. I think the sales tax thing on a used boat sucks,every time its sold it gets paid again. How many times can you tax the same boat? AS many times as its sold. Doug
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