Next message: Bryan Genez: "Re: [world-cruising] Re: Tax Question about the USVI"
So far I like the idea of selling the boat to myself and wife after it comes out of the Moorings Program. I will probably pay the lower value as a used vessel and will have the people that do the paperwork for entry into the US for customs put a low ball value on the sailboat.
We will be keeping it in CT and they check the marinas regularly for vessels without a state registration and Documentation outside of CT. Our last boat was documented, S-Corp and hailing port Philadelphia, Pa. and the corp. was in Dover, De.
I wasn't bothered for years regarding the sales tax. We owned the boat for 25 years. NYS caught up to us when we lived in NY and had to pay the sales tax then; fortunately they had an amnesty program and we just paid the sales tax on the purchase price of the boat.
This past year the USCG changed the address of the corp. and sent me the paperwork directly and the Dept. of Revenue Services found me and wanted the sales tax and penalties + interest. Fotunantely they believed that I paid the NYS sales Tax; but I also had sold the boat 2 months before they contacted me. I stillhave the sales tax paperwork in case they come after me later.
Sonny
s/y NIRVANA, SO49
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