Next message: Kerry Thomas: "RE: [world-cruising] Re: Tax Question about the USVI"
On Mon, Mar 31, 2008 at 8:42 AM, Philip Lange <>
wrote:
> So-- If I were in your boat, I would - Form a LLC and sell the boat to
> myself and family - establish North Carolina as my legal residence and
> make some boat improvements with my money instead of giving it to the
> thieves.
>
The various counties in NC do assess an annual personal property tax, which
applies to boats and dinghies that have motors. Rate varies by county, but
figure someplace between 0.6 to 1.1 percent of the assessed value every
year. It does add up.
Avoiding this tax can be done if you have the boat elsewhere (out of the
state) on January 1 (and don't have a slip rented on that date either). I
have a friend who takes his boat to the Bahamas every winter; he hasn't paid
any NC tax yet.
--
Best,
Bryan Genez
"Capella" V40-158
New Bern, NC
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