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Tax on used boat
#9794809
03/04/14 10:18 PM
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Joined: Feb 2006
Posts: 1,710
Chet
OP
Extreme Angler
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OP
Extreme Angler
Joined: Feb 2006
Posts: 1,710 |
I read about SPV vs Price paid on an auto but is there an SPV on boats or is just the price paid you give them that is taxable?
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Re: Tax on used boat
[Re: Chet]
#9796122
03/05/14 04:46 AM
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Joined: Apr 2010
Posts: 366
slimjim
Angler
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Angler
Joined: Apr 2010
Posts: 366 |
Every time I have done it they just use the price paid.
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Re: Tax on used boat
[Re: Chet]
#9803681
03/07/14 05:39 PM
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Joined: Nov 2007
Posts: 5,497
ssmith
TFF Celebrity
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TFF Celebrity
Joined: Nov 2007
Posts: 5,497 |
so far it is tax on the price paid the way some folks it will probly be changed like it is on motor vehicles.
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Re: Tax on used boat
[Re: Chet]
#9817419
03/12/14 02:30 PM
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Joined: Oct 2010
Posts: 395
RecLending.com
Angler
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Angler
Joined: Oct 2010
Posts: 395 |
I read about SPV vs Price paid on an auto but is there an SPV on boats or is just the price paid you give them that is taxable? We always like to give a standard answer on questions like this....call the state and get the facts. Upfront info is way better than trying to scramble and fix something afterwords. More states are going to paying tax on value. Maybe the days of reporting a sale for half the real paid price are coming to an end. You had to figure the states would figure it out sooner or later. Thank you, Ken
RecLending Office (517) 543-6921 Email: Info@Reclending.com Todd's Cell: 517-294-0459
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Re: Tax on used boat
[Re: Chet]
#10367480
10/23/14 06:10 PM
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Joined: Apr 2006
Posts: 2,240
DedShort
Extreme Angler
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Extreme Angler
Joined: Apr 2006
Posts: 2,240 |
It is a bit irritating that they charge sales tax on a vehicle every time it is sold. A transfer fee would be more appropriate in my opinion. Private buyers/sellers should be exempt!
"Liberty is always dangerous, but it is the safest thing we have." - Harry Emerson Fosdick
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Re: Tax on used boat
[Re: Chet]
#10367644
10/23/14 07:31 PM
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Joined: Oct 2010
Posts: 395
RecLending.com
Angler
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Angler
Joined: Oct 2010
Posts: 395 |
Sales tax is a pain. We are in Michigan and we JUST became a trade difference state. At least that way if you trade, you pay tax on the lesser amount after the trade. The other way, we paid sales tax on the full purchase and the trade came off after that. There are a couple states where there is no sales tax on a private sale. My bet is the dealers sure do not like it. That puts them at a bit of a handicap. The other fun ones are the states where each county has its own additional rate ON TOP OF the state rate. The other catch with sales tax is that even if another state has a better rate or program, you need to follow the rules in the state where the boat will be registered or titled. At least you don't get double taxed when buying out of state. As always, be sure to check before hand to eliminate a surprise at the end. Let us know if we can help. Thank you, Ken (517) 930-2721
RecLending Office (517) 543-6921 Email: Info@Reclending.com Todd's Cell: 517-294-0459
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Re: Tax on used boat
[Re: Chet]
#10390288
11/05/14 12:31 AM
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Joined: May 2013
Posts: 954
JoeFriday
Pro Angler
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Pro Angler
Joined: May 2013
Posts: 954 |
In TX, it is the price paid for the boat and motor to TPWD. The trailer price is TDMV. You have to separate the two for the paperwork. I just went through an agonizing deal where I traded a motorcycle for a boat. TDMV didn't give me any problems and processed the title with fees paid and no tax paid based on the bill of sale showing an even trade. The guy didn't have any problems with TDMV getting the motorcycle titled with no tax paid. TPWD was a completely different story. I had to go back to the seller and get a revised bill of sale that listed a value for the motorcycle and boat and motor. I even talked to a representative at the state comptrollers office to explain it was hogwash because no cash changed hands, and I already paid tax on the motorcycle. The end result is that TPWD makes their own rules and the only trade they consider is boat for boat. It was a painful lesson to learn that logic and fairness does not always prevail.
This space for rent
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Re: Tax on used boat
[Re: Chet]
#10392906
11/05/14 10:40 PM
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Joined: Mar 2010
Posts: 25,663
T Bird
TFF Guru
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TFF Guru
Joined: Mar 2010
Posts: 25,663 |
Taxed on written/signed Bill of Sale price for used boat ride in Texas. (At least for now)
Okie by birth, Texan by choice. USAF "Thunderbirds" Alumni 1985-1989
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Re: Tax on used boat
[Re: JoeFriday]
#10399516
11/09/14 01:16 PM
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Joined: Aug 2011
Posts: 2,957
Bob Landry
Extreme Angler
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Extreme Angler
Joined: Aug 2011
Posts: 2,957 |
In TX, it is the price paid for the boat and motor to TPWD. The trailer price is TDMV. You have to separate the two for the paperwork. I just went through an agonizing deal where I traded a motorcycle for a boat. TDMV didn't give me any problems and processed the title with fees paid and no tax paid based on the bill of sale showing an even trade. The guy didn't have any problems with TDMV getting the motorcycle titled with no tax paid. TPWD was a completely different story. I had to go back to the seller and get a revised bill of sale that listed a value for the motorcycle and boat and motor. I even talked to a representative at the state comptrollers office to explain it was hogwash because no cash changed hands, and I already paid tax on the motorcycle. The end result is that TPWD makes their own rules and the only trade they consider is boat for boat. It was a painful lesson to learn that logic and fairness does not always prevail. Especially with the morons @TPWD. It's easier to just write them a check. and walk away from it rather than be dragged down to their level trying to win an argument.
2015 Seaark 1872 MV CC Etec-90 Two Helix 12 CHIRP SI's, , MinnKota Riptide ST80/i-pilot Link, Bob's Hydraulic 2020 Robalo R200 CC, Yamaha 150
Bitter Gun Owner Bitter Clinger Armed Infidel
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Re: Tax on used boat
[Re: Chet]
#10775170
04/17/15 05:24 PM
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Joined: Apr 2004
Posts: 13,992
Stump jumper
TFF Guru
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TFF Guru
Joined: Apr 2004
Posts: 13,992 |
There was a time when the only sales tax you paid when buying from an individual was on the trailer. Sales taxes on used stuff is double taxation in my book.
2200 Bay Champ/200 Mercury Optimax 2017 Tundra TSS 4x4 Crewmax 5.7L
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Re: Tax on used boat
[Re: Chet]
#10775862
04/17/15 10:01 PM
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Joined: Sep 2012
Posts: 870
TITANIUM-BACK
Pro Angler
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Pro Angler
Joined: Sep 2012
Posts: 870 |
Especially with the morons @TPWD. It's easier to just write them a check. and walk away from it rather than be dragged down to their level trying to win an argument. _There was a time when the only sales tax you paid when buying from an individual was on the trailer. Sales taxes on used stuff is double taxation in my book. ________________________Couldn't agree more...100%
Freedom isn't free, you don't have to love it or leave it, but respect the price paid for it. Master Caterpillar Field Mechanic. Retired
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Re: Tax on used boat
[Re: Chet]
#10780647
04/20/15 11:53 AM
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Joined: Apr 2010
Posts: 26,060
patriot07
TFF Guru
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TFF Guru
Joined: Apr 2010
Posts: 26,060 |
TPWD is incredibly difficult to deal with on this stuff. Even if you call in advance, you are just getting one person's opinion. They think it is within their rights to make up new rules once you get the paperwork in front of them. I wouldn't trust those jackwagons to flip a burger at McDonalds. But somehow the state puts them in charge of thousands of dollars of tax revenue and paperwork for boat owners? Dumb...
Life can only be understood backwards; but it must be lived forwards. - Soren Kierkegaard
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Re: Tax on used boat
[Re: Chet]
#10788615
04/22/15 10:49 PM
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Joined: Aug 2006
Posts: 1,993
Clint Wr
Extreme Angler
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Extreme Angler
Joined: Aug 2006
Posts: 1,993 |
I would rather run my head through a sheet rock studded wall than deal with TPWD...
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Re: Tax on used boat
[Re: Chet]
#10791776
04/23/15 11:13 PM
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Joined: Sep 2003
Posts: 4,344
MV
TFF Team Angler
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TFF Team Angler
Joined: Sep 2003
Posts: 4,344 |
yep. they are double dipping
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Re: Tax on used boat
[Re: Clint Wr]
#11077282
09/01/15 10:19 PM
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Joined: Jun 2012
Posts: 1,260
crankbait745
Extreme Angler
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Extreme Angler
Joined: Jun 2012
Posts: 1,260 |
I would rather run my head through a sheet rock studded wall than deal with TPWD... Me too brother.
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