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goose89

sales tax question

Question

goose89

Does the buyer of a used private party boat have to pay the state sales tax on the boat?? I've heard he/she only has to pay on the trailer. What is correct. Thanks in advance.

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Sandmannd

I know the buyer has to pay a title transfer and tax on the the trailer. I believe there is sales tax as well on the boat but not 100% on that.

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PerchJerker

You are correct. If you buy a used boat / motor / trailer you pay tax on the value of the trailer only, not on the boat or motor.

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Whoaru99

I don't know for sure, but my speculation is that the boat sale is taxable. However, unless it's titled and you have to transfer it, there is no official collection of the tax. That doesn't necessarily mean tax is not owed/due on the sale. It may be that there is some obsure form you are supposed to fill out and dutifully remit payment to the man.

Like I said, don't know for sure...

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blueroof

Private party sales have no sales tax. If you buy a used boat from a dealer, you pay sales tax. The trailer is taxed regardless.

lb

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Fishbreath1

I remember that when I bought my kayak I had to show the receipt when I got the licence sticker that proved I paid sales tax on it. Otherwise I would have had to pay the tax at the licence center.

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PierBridge

Quote:

Private BOAT party sales have no sales tax.


Trailer yes.

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ChuckN

There is 6.5% tax on the value of the trailer regardless of private party or dealer because it falls into DMV license requirements. So, be prepared to have a value of the trailer.

Private sale of the boat and motor is not taxed on value as they are DNR registered, not DMV (Dept. of Motor Vehicles).

There will always be transfer title fees, recording fees, etc...

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wishing for walleyes

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Powerstroke

ChuckN has it right. The trailer is operated on the road, its a "vehicle" technically.

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goose89

Thanks for the answers and advice.

No more responses needed.

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