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Tax on a used boat?
#12340776
07/15/17 01:14 PM
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Joined: Jun 2016
Posts: 1,514
i-Fish
OP
Extreme Angler
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OP
Extreme Angler
Joined: Jun 2016
Posts: 1,514 |
Sooo...state gets the tax on a new boat purchase and AGAIN gets the tax when you buy a previously new (and taxed) boat? Am I missing something?
If you can't find em wind em.
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Re: Tax on a used boat?
[Re: i-Fish]
#12340785
07/15/17 01:19 PM
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Joined: Mar 2007
Posts: 16,323
forkduc
TFF Guru
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TFF Guru
Joined: Mar 2007
Posts: 16,323 |
Nope. That's the way it is!
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Re: Tax on a used boat?
[Re: i-Fish]
#12340792
07/15/17 01:24 PM
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Joined: Jun 2016
Posts: 1,514
i-Fish
OP
Extreme Angler
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OP
Extreme Angler
Joined: Jun 2016
Posts: 1,514 |
If you can't find em wind em.
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Re: Tax on a used boat?
[Re: i-Fish]
#12340896
07/15/17 02:46 PM
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Joined: Jul 2014
Posts: 4,340
Bobby Milam
TFF Team Angler
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TFF Team Angler
Joined: Jul 2014
Posts: 4,340 |
There is sales tax on everything that you buy, whether new or used. It's the same way on cars and everything else. It's one of the reasons we don't pay a state tax here.
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Re: Tax on a used boat?
[Re: i-Fish]
#12340935
07/15/17 03:02 PM
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Joined: Nov 2010
Posts: 4,423
RJF1423
TFF Team Angler
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TFF Team Angler
Joined: Nov 2010
Posts: 4,423 |
I can live with it because there is no state income tax. Now if we had both I would be pissed!
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Re: Tax on a used boat?
[Re: i-Fish]
#12340943
07/15/17 03:08 PM
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Joined: Sep 2005
Posts: 27,532
Uncle Zeek
aka "Dad"
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aka "Dad"
Joined: Sep 2005
Posts: 27,532 |
Sooo...state gets the tax on a new boat purchase and AGAIN gets the tax when you buy a previously new (and taxed) boat? Am I missing something? The only exception I can think of is if you trade in the used boat when purchasing another one. Same applies to cars & trucks. Doesn't matter if you're buying a new or used vessel/vehicle - the trade-in value offsets the new(er) purchase and you only pay sales tax on the net price. But in general yeah, the state collects sales tax on the sale or resale of a boat.
"Decency is not news; it is buried in the obituaries --but it is a force stronger than crime" ~ Robert A. Heinlein Artim Law Firm, PLLC Estate planning & tax attorney 2250 Morriss Road, Suite 205, Flower Mound, Texas 75028 972-746-0758 mobile zac@artimlegal.com
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