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Subject: Re: [worldcruising] yacht incorporation
From: Tom Grimmett (tgrimmett@XXX.XXX)
Date: Wed Sep 18 2002 - 22:07:20 EDT
New Hampshire is also a sales tax free state. And I believe if you USCG
document with a home port in NH, there's no state use tax/registration. I had
to keep my boat in NH for 12 months after the sale before moving it to Maine,
otherwise Maine would have levied sales tax on me. Perhaps other taxing states
have similar rules.
-Tom
--- "Rosalie B." <gmbeasley@XXX.XXX> wrote:
> On Wed, 18 Sep 2002 16:49:26 EDT, you wrote:
>
> >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
>
> Delaware is where a lot of corporations have their headquarters for
> tax reasons, but I don't think there is tax on sales of boats in RI.
> And of course the deal takes place off-shore, there's no tax. I would
> be surprised, however, if corporations did not have to pay taxes, even
> those headquartered in DE. Why would any state allow that? The only
> people I know that are exempt from taxes are government entities.
>
> >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
> >
> >
> >=====================================
> >to unsubscribe email to: worldcruising-unsubscribe@onelist.com
> >
> >
> >Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/
> >
>
> grandma Rosalie
>
>
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