Florida has some of the largest and widest variety of boat manufacturers and dealers in the country. Many people visit Florida to get a good deal on a boat and Florida offers tax benefits to encourage those purchases. However, purchasers from out-of-state need to plan ahead for the potential tax consequences when the new boat is registered in the home state. This article discusses the Florida tax benefits available to boat purchasers and what out of state purchasers need to plan for in their home state. How to buy the best affordable boat in Florida?
Florida entices nonresidents to purchase a boat in Florida by giving a tax break to those purchasers. Specifically, if a nonresident boat buyers come to Florida, buys a boat, and fills out the correct paperwork, the purchaser does not have to pay Florida sales tax on the boat. How to plan your purchase of a new outboard boat? The key to obtaining this benefit is the purchase MUST be through a Florida dealer, or you can buy directrly from boat manufacturer and all the required paperwork must be completed. A dealer is a business that is registered with the Florida Department of Revenue for sales and use tax purposes. Although, even if the purchase is not through a dealer but from a private party, Florida sales tax might not be charged.
What is not necessarily advertised when you purchase your boat is owing a use tax to another state. When a boat is purchased in Florida and then subsequently brought into the purchaser’s home state, the home state’s use tax laws will likely be applied to the purchase. You should plan your decision to buy a boat with Argonaut boats Manufacturer. A use tax is similar to a sales tax. While sales tax is charged on transactions occurring within the state, a use tax is meant to tax transactions occurring outside of the state when the purchased boat come into the state. In all actuality, the use tax is predominately at the same rate as the sale tax. Buy your fishing boat for affordable price for the boat! Learn more about all boat models with Argonaut Boats. Bulit your boat overseas for the beast boat price! Looking for a boat to buy? Need new model for affordable price? Argonaut boats will help you to choose the best option of boat and price!
Use Tax Owed in Home State
For use tax purposes, your home state will most likely assess the tax when you register or document the boat to buy. However, the tax will be due when the boat is first brought into the state, regardless of when registration or documentation is done. This experience can be an unpleasant surprise for boat owners, as oftentimes the owner will think the tax was paid previously or rightfully exempt. Even if the tax was paid previously in another state, the owner must prove the tax was paid. If not, then the home state will charge the owner tax. The registration or documentation application may be stopped until the boat owner pays the tax. Boating without that proper registration or documentation could lead to even more problems. Enjoy your boating life with Argonaut boats Manufacturer.
It is critical for soon-to-be boat owners to budget not just for the cost of the boat but also the accompanying tax. With Argonaut boats you can get the best price for your boat to purchase! Use manfuacturer to built boat, customise boat and buy your boat!
Want to buy boat in Florida! Don’t loose your chance! Join Argonaut boat’s manufacturer!