Sales Tax question
#1
Sales Tax question
I live in Illinois and I am considering looking at a boat in Missouri. It is being sold by a business that lists themselves as Marine brokerage and consignments. Would I have to pay a sales tax if I buy a boat there??? I am hoping the answer is no. It would add alot to the bottom line and possibly kill the deal. Any guesses anybody ??
I forgot to add that this is a used boat. And it is documented.
I forgot to add that this is a used boat. And it is documented.
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Last edited by Bigwavz; 10-21-2004 at 09:45 PM.
#2
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Re: Sales Tax question
Sales tax laws vary from state to state... California used to have a 90 day period... If you didn't bring the item you purchased into the state for 90 days... you didn't have to pay sales tax... That loophole was just closed... now... it's one year... There used to be a harbor in Mexico that was called 90 day harbor... because new boats destined for California were delivered there... they stayed for 90 days.. then brought into the country without having to pay the sales tax.. It is now one year. Plus... if you register a boat trailer in California... they then want to know the value of the boat that sits on it... so they get you one way or another......
#3
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Re: Sales Tax question
Big,
You will have to pay sales tax in Illinois on the purchase price of the boat. It's been a while since in IL but in WI, when purchasing a used boat from a private sale, you fill out the forms. Read between the lines I guess...not that I've done it...but plenty of friends have.
You will have to pay sales tax in Illinois on the purchase price of the boat. It's been a while since in IL but in WI, when purchasing a used boat from a private sale, you fill out the forms. Read between the lines I guess...not that I've done it...but plenty of friends have.
#4
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Re: Sales Tax question
here in Jersey if you live out of state and purchase here in Jersey then you pay sales tax in your state when you register, same goes if i purchase out of state, i have to pay Jersey sales tax when i register
#5
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Re: Sales Tax question
Here in the land of southern engineering it's a little different.
ANY used boat, or a boat the has been tagged, has no sales tax on it at all. Regardless if it was purchased in or out of state.
All new boats have sales tax on them. This is paid at the revenue office when tagging the boat.
Buck
ANY used boat, or a boat the has been tagged, has no sales tax on it at all. Regardless if it was purchased in or out of state.
All new boats have sales tax on them. This is paid at the revenue office when tagging the boat.
Buck
#6
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Re: Sales Tax question
dude, its simple just get the owner of the boat to give a second reciept for like 8 g's and have it say no motors and haul damage, the people at motor vehicle have no idea what these things cost and will never check.
#7
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Re: Sales Tax question
Your going to pay when you register the boat..you will be paying,in jersey they go by some bs book,if they think you did not pay enough they will give you a demand notice then you have to produce a reciept to match what ever you wrote down at motor vehicle ....they do check here though .
#8
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Re: Sales Tax question
Since you are in Illinois they will Tax you when you register 6.25%. Here is another kicker. Before September 1st of this year if you bought a used or brokered boat you did not pay sales tax. After September 1st you pay sales tax on the boat only. You can hide some cost in the trailer. No matter what you will now have to pay Sales Tax. Thanks Illinois.
#10
Re: Sales Tax question
Well I called the broker and he stated no sales tax. UH OH Now I guess I have to call the bank and get a loan going.
Anybody lookin for a fast, clean 24 Outlaw ???
Send them my way !!!
Anybody lookin for a fast, clean 24 Outlaw ???
Send them my way !!!
__________________
Want your ECU tuned right?? Call Mark at Precision www.pmefi.com
Want your ECU tuned right?? Call Mark at Precision www.pmefi.com