brian18330

My buddy is buying a big searay and is trying to avoid sales tax if possible.If he coast guard documents the boat and says the hailing port is in DE will this work? DE doesnt even require you to register the boat if its coast guard documented. Anyone have any insight on this?? Thanks

t500hps

contact "the yacht registry" and set up a DL corp. Buy the boat in that corp name and register the boat through that company. Depending on where the boat will be stored he could likely avoid ALL taxes......in VA you could still be on the hook for personal property but only if "found".

brian18330

Thanks, but he cant finance it in an corp name.

C_Spray

iTrader: (2)

Keep it in Delaware, and he'll be OK. If he's going to keep it in MD or PA, forget it. Both state's Marine Patrol check the local marina's (and their records!) on a regular basis. When (not if...) he gets caught, the fine will be 10% of the boat's value, and he'll still have to pay that state's sales tax anyway. These guys are on to the "Delaware game" big time.

animalhouse

Register in RI. Can register through P.O. Box, no sales tax or pers property tax.

Spicy

Been there done that...

Kicker is my name is on my parents House in Lewes Delaware and showed this to Maryland DNR, they showed me pictures and documentation of my 36 Concept enjoying the Chesapeake Bay for more than 6 months that year and hit me with fines above... Luckily for me I new someone that new someone and the fine and fee's were reduced and the value of vessel....

Like Chuck said they are on to the Delaware game.


Pat

O.C.Barry

iTrader: (5)

Welcome to Maryland! Have a thought? They will tax that too! The politicos here are pretty free and easy with taxpayers money. The General Assembly in MD just moved the Ocean City Beach replenishment funds to the General Fund to make it look like they were balancing the budget. What did they replace the beach replenshment funds with? State issued Bonds. So they borrowed money and replaced it with paper borrowed funds.