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Subject: Re: [worldcruising] yacht incorporation
truelove39@XXX.XXX
Date: Wed Sep 18 2002 - 16:49:26 EDT
The guy I bought my boat from lived in FL but had a holding company in DL
which owned the boat. That's where the boat was state-registered, too. But he
was in the business of restoring boats and selling them. I believe that he
was exempt from sales tax while he owned the boat. Either that or the Corp.
paid the tax but could write it off. But even if you register in DL (I
believe that's the only state where there's no tax) once you move it to any
other state you will have to get a cruising permit (only good for a short
time like 90 days) or pay sales or use tax. If you bought the boat in one
state and the tax was 3% and brought it to another where it was 6% you will
have to pay the other 3%. They will find you out if you try and avoid it.
Here in VT, the tax dept has the marinas submit a list of vessels stored
every winter.
Good sailing,
John
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