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boat purchase with documentation ?

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Old 03-29-2005, 08:35 AM
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Default Re: boat purchase with documentation ?

1. Do what GLH said, use a broker.

2. You will need a Bill of Sale.

3. Depending on your state it will NOT get you out of paying state taxes. There are only 3-4 states that a person to person sale does not require sales tax be collected. And in at least oneof those states if a dealer has his hands in it you pay regarless.

4. You will still need a state sticker for your port of call.

5. There will be a title.

There was another thread not too long ago hat had all the details laid out. Plug in "vessel documentation" to search OSO threads.
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Old 03-29-2005, 12:31 PM
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Default Re: boat purchase with documentation ?

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Originally Posted by Chris Sunkin
Try boating on Lake Erie with a documented vessel. I was strongly warned twice then had my Apache impounded for being unregistered. The Division of Watercraft then turned me in to the Ohio Department of Taxation who fined me for avoiding sales tax. Avoiding state taxes is illegal and I can assure you the local authorities in the western basin either aren't trained or don't care about USCG documentation.
I'm sure this is true in Ohio, but each state has their own rules. Missouri waives state sales tax if your boat is documented with the USCG. Illinois does not waive the taxes. Missouri is getting smarter though, they now levy a state fee for documenting a boat with USCG and getting a state 3 year sticker. The fee is based on the price of the boat, but it is still way cheaper than state sales tax.

I assume if I bring my boat to Ohio with a Missouri 3 year sticker on it, I wouldn't get hassled, but I've never done that so who knows.

In Missouri (LOTO) they look for a sticker, not necessarily a Missouri one, but and valid state registration. If you have it your ok, if there isn't a sticker on your boat, plan to get pulled over.

You can call Marine Documentation in Mo. at (573) 365-3341 and they can help you. They do tons of these and do it by mail. Even if you don't want to use them they will tell you exactly what you need to do.

Like others mentioned, I highly recommend you use a service. You will pay up to $500 for it, but it is worth every penny and they will ensure it is done right.
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Old 03-29-2005, 12:55 PM
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Default Re: boat purchase with documentation ?

I just called Marine Documentation and got the skinny. The current coast Guard document serves as your bill of sale. The back gets filled out and has to be notorized. If you want to continue to document the boat with the USCG, you have to send that documentation in and apply for it to be put in your name. That is the part I recommend using an agent for, and others here do too. The cost of that from Marine Documentation is $495. If you want to delete the documentation, then you have to apply for that also, and instead of sending you new USCG documentation in your name, you will get a title. That costs $75 from Marine documentation.

In Missouri the benefit of documenting with USCG is Missouri waives sales tax (but they do get a fee when you get your sticker, it is just not as much as sales tax). Other states may or may not waive sales tax, so how you want to document or title your new purchase is really dependent on the laws of the state from which you are going to get your sticker.

Hope this helps.
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Old 03-29-2005, 01:40 PM
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Default Re: boat purchase with documentation ?

Is this boat being brought into the country? If it is it will have to pass through customs and will require a 7501-cf form. Also if it has a trailer it will have to meet EPA regulations and form HS-7 will be required. Even with a bill of sale it does not show transfer of ownership. You need the title to transfer ownership. Also if you are finiancing this through the bank the bank will want to be a lien holder on the title. If you do not receive a title the bank could repo the boat.
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Old 03-29-2005, 09:50 PM
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Thumbs up Re: boat purchase with documentation ?

thank you for all of the good advice. i just spoke to a broker and you guys are dead on. appreciate your help
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