About the author: David Brennan is an associate attorney with Moffa, Sutton, & Donnini, P.A. TPWD is required by law to collect tax for vessels/boats (115 feet or less in length) and outboard motors purchased in Texas or brought into Texas on or after January 1, 2000. hWko+jiBjxnUA$dRwM (-Sdl!F. All motorized vessels, commercial and private, must be registered, titled and issued a . Calculating Sales Tax Florida sales and use tax in the amount of 6% is collected on the purchase price, less trade in, on all vehicle transfers of ownership. endstream endobj startxref Luggage repair *. At the Law Office of Moffa, Sutton, & Donnini, PA, our primary practice area is Florida taxes, with a very heavy emphasis in Florida sales and use tax. A dealer is a business that is registered with the Florida Department of Revenue for sales and use tax purposes. Tax Collector Locations: North County - 29399 US Hwy 19 N, Clearwater, FL 33761. Most of the time, this tax is labeled as your home states tax. %%EOF Make changes to your 2022 tax return online for up to 3 years after it has been filed and accepted by the IRS through 10/31/2025. The law enforcement agency will collect a fee to conduct an investigation and determine the owner of the vessel. Taxes are an inevitable cost to factor in when budgeting your boat purchase. * Boat repairs and parts State B welcomes you to the state, but weeks/months later State B eventually sends you a letter saying you owe 8% tax or $8,000. A purchaser of a new or used vessel has 30 days to title and register that vessel. Vessels operated, used and stored exclusively on private lakes and ponds. Under this permit, the boat could stay in Florida (or anywhere in the U.S.) for up to one year. 390.00 to 416.00. D@ s?. Depending on which county the boat is delivered to, Discretionary Taxes come into play. If the vessel was purchased out of state, and sales tax or use tax was paid to another state, additional tax may be due upon registration in California. Some items are exempt from sales tax, including but not limited to: groceries, prescription drugs, certain medical devices, and child safety seats.If youre a Florida resident, you do not have to pay sales tax on items that you purchase for your own use. If you need to find your property's most recent tax assessment, or the actual property tax due on your property, contact the Manatee County Tax . Many people visit Florida to get a good deal on a boat and Florida offers tax benefits to encourage those purchases. In addition, some counties charge a local discretionary sales surtax. Yes, there are information sharing agreements among the governments of the United States to ensure they can squeeze every last drop of money from you. New Yorkers, for instance, pay sales tax on only the first $230,000 of a purchase priceor 8.25 percent, in most counties. %PDF-1.6 % Gulf to Bay - 1663 Gulf to Bay Blvd, Clearwater, FL 33755. Out-of-State and New Resident Purchases Boat and Boat Motor Sales and Use Tax Exemptions Exemption for Boats and Boat Motors Sold for Use in Another State Temporary Use Permit Limited Sales and Use Tax Limited Sales and Use Tax Exemptions Penalties and Interest Penalties Interest Additional Resources Refunds Sales and Use Tax Used vessel from a state that does not require title Current registration from that state and a bill of sale from the current registrant. The "MR. SUTTON IS AN ADJUNCT PROFESSOR Additional titling fee of $4 is required for vessels previously registered outside of the state of Florida. Multistate policies are charged 4.94% tax on the entire premium, but will still require a premium allocation of Florida and Non-Florida. When a boat is purchased in Florida and then subsequently brought into the purchasers home state, the home states use tax laws will likely be applied to the purchase. * Household appliances washers ,dryers , refrigerators , ovens * Jewelry repairs * Lawn care services *. endobj There are a few things you can do to avoid paying taxes on your boat purchase. How to Use This Boat Loan Calculator To use this boat loan calculator, type in the amount you'll need to borrow, the interest rate and. One way might be the Coast Guard. Be sure to follow these laws when operating your vessel, as failure to do so could result in hefty fines or even jail time. How is it calculated? Knowing how much tax you owe your state is key to proper budgeting as well. | May 23, 2019 Florida has some of the largest and widest variety of boat dealers in the country. The make, model, and year of your vehicle. If you are looking into a superyacht purchase, the cap for sales tax in Florida is $18,000.00. 0 The Florida use tax is a special excise tax assessed on property purchased for use in Florida in a jurisdiction where a lower (or no) sales tax was collected on the purchase. If the vessel is required to be titled, the title must be issued prior to the issuance of the registration. The IPC tax rate remains at 5%. If you have purchased a boat or motor out-of-state or from a SCDNR permitted marine dealer: Property taxes will be billed by your county after being titled and/or registered with SCDNR. While working for the Florida Department of Revenue as a Senior Attorney, David focused on sales and use tax issues for boats, among other areas. Usage is subject to our Terms and Privacy Policy. That gives you just a few more days to get your taxes filed, so here we'll cover some of the things you'll want to make sure you know.The good news? privilege. So far the $18K tax cap has been a positive change for the State of Florida. This boat loan calculator can help you do that. OF LAW AT STETSON UNIVERSITY COLLEGE OF LAW TEACHING STATE AND LOCAL TAX, 33637 You can read his BIO HERE. If you are found to be boating in these less-than-generous states, the state could have a case against you for taxes on your boat purchase. Obtain a completed REG 256 form and collect the difference in tax. However, there may be scenarios in which the tax is listed as sales tax or even worse as Florida sales tax. It is worse if it is labeled as Florida sales tax because you should not have to pay Florida sales tax on the boat purchase in Florida being a nonresident purchasing from a dealer. Well help you navigate the law and find the right vessel for you! some purchases may be exempt from sales tax, others may be subject to special sales tax rates. Whenever agents, brokers, companies, or policyholders have specific questions pertaining to business practices, tax implications, or statutory interpretation, we urge the respective parties to seek the counsel of a competent attorney or tax consultant licensed in the appropriate jurisdiction and area of expertise. endobj The casual excise tax for a motor purchased alone is 6% with no maximum. Menu burger Close thin Facebook Twitter Google plus Linked in Reddit Email arrow-right-sm arrow-right Loading Home Buying Calculators The date that you purchased (or plan to purchase) the vehicle. All Fees and Totals contained herein are estimations only and are subject to change. 2 0 obj As if this was bad enough, if you boat in other states, those other states may try to charge you tax as well! A little fishing, a little drinking, a little office talk Sure, write that off has an eligible business entertainment deduction. This can be done by going to your local county tax collectors office and providing them with the paperwork from the purchase, as well as proof of residency.Youll also need to pay for registration and titling fees. CUSTODIAN OF PUBLIC RECORDS: Office of the Monroe County Tax Collector, 1200 Truman Ave., Ste 101, Key West, FL 33040 (305) 295-5000. Leon County collects 6% sales tax on the total price and an additional 1.5% on the first $5,000. DONINNI HAS AN EXCLUSIVE FOCUS ON STATE AND LOCAL TAXES AND AS SPEARHEADED boats.com, 1221 Brickell Avenue, 23rd Floor, Miami, FL 33131, USA. If youre looking to buy a boat in Florida, its important to be aware of the states sales tax laws. Our Boat Pricing Tool takes a number of factors into account, including size, age, model, and condition. The current sales tax rate in Florida is 6%.The seller is responsible for collecting and remitting the sales tax to the Florida Department of Revenue. The good news is that there is a handy online calculator that can help you calculate the amount of sales tax you'll owe on your purchase. Once purchased, your boat and/or motor may be used 60 days from the date of purchase, even with . client mutually agree to proceed, a written retainer agreement providing For more information, please click here. Fee. Provides Details on Compliance, Procedures, Filings, SLIP, Etc. The sections below will help you calculate an estimate for other scenarios and transaction types. Yes, the taxman cometh. Copyright 1999-2023 Boats Group. Florida has some of the largest boat dealers and with such high volume of sales, they can offer some of the best prices available. That said, its great to be a boat buyer in Florida. Meditation center fees *. This tax cap law went into effect July 1, 2010, and is still in effect today. If the vessel is not claimed in the process of the investigation, the law enforcement agency may transfer it to the finder with a bill of sale and evidence of the investigation. Vessels from a country other than the United States temporarily used, operated or stored on the waters of this state for a period that is not more than 90 days. This website is designed for general information only. Nine years ago, Florida implemented a tax cap on boat purchases that is still in effect today. If sales tax on the total purchase price of the vessel has not been paid at the time of the registration, payment must be made along with the registration and titling fees. The capped number is $18,000 . However, when you purchase a boat in Florida, you need to be aware that there may be a sales tax liability upon return to your home state. Upgrading is easy; just register for a free account. In Maryland, the maximum out of pocket in sales tax is $15,000 . Florida has some of the largest and widest variety of boat dealers in the country. Amphibious vessels which have been issued a vehicle title by FLHSMV. She is the author of 10 books including Dream Cruises: The Insiders Guide to Private Yacht Vacations, and is editor of the online yacht vacation magazine, How to Buy a Boat: Tips for a First Time Buyer, Top 10 New Fishing Boats for Under $20,000, What Type is Right for You? Counties that charge the optional county fee are: Broward, Charlotte, Collier, Dade, Hardee, Hillsborough, Lee, Manatee, Martin, Monroe, Palm Beach, Pinellas, Polk, Sarasota and Volusia. How To Calculate Import Duty & Tax Online For Free Share Watch on Once you know what both states requirements are, compare them to see if theres a requirement for paying sales tax in either state. links within the website may lead to other sites. Do you have to pay sales tax on an out-of-state purchase? 5 Free Calculations Per Day At Simply Duty you get to use our duty calculator free of charge every day!! Florida, for example, has such a provision that caps the tax to $18,000. The Duval County sales tax rate is %. 0 Florida Paycheck Calculator - SmartAsset SmartAsset's Florida paycheck calculator shows your hourly and salary income after federal, state and local taxes. All in all, the $18K tax cap has been a benefit to boat buyers and boat sellers alike. Casual excise tax is charged upon the issuance of a title or proof of ownership for a boat or motor. For use tax purposes, your home state will most likely assess the tax when you register or document the boat. $,(+~StVWK$q$g^PNV35c+U%wJlW.?9JB,k4w$ENRv /Gc 9g1?m9$`GO]@c*`$7,8l3!orB|Y}'F@fFs$.in1ObzLi3UGS$6JAm-,N$lBXv%l]vNf'. He received his Juris Doctor in 2013 and was licensed to practice law in Florida in the same year. And, because you have owned and used your boat in another state as long as you have, there will be no use tax due when you bring it to Florida. This breakdown will include how much income tax you are paying, state taxes, federal taxes, and many other costs. Chapter 328, Florida Statutes, designates that FLHSMV is responsible for issuing vessel registrations and titles. 2011 - 2023 - Moffa, Sutton, & Donnini, PA - All Many of us dread Tax Day on April 15thboat owners included. All rights reserved. Florida Sales Tax Calculator You can use our Florida Sales Tax Calculator to look up sales tax rates in Florida by address / zip code. Simplify Florida sales tax compliance! If youre buying a boat motor in Florida, youll need to pay sales tax on the purchase. If you continue to use this site we will assume that you are happy with it. Winds SW at 10 to 20 mph.. (888) 444-9568 . Many boat taxes help to pay for things that boaters want and love - such as boat facilities, on-the-water services and waterway upkeep. 58 0 obj <>stream And remember, it is ultimately your responsibility as the buyer to ensure that the sales tax is paid so dont let the seller off the hook! All Rights Reserved. If the sales tax has been paid, a receipt for payment must be provided to the county tax collector or license plate agent processing the title and/or registration. In this instance, the boat owner would bring the boat back to Florida under an annual cruising permit from the U.S. Coast Guard. While you may be squared away with your home state, other states may try to jump in and take the position that they can tax your boat purchase as well. The Finest Custom Sportfish Brokerage #MacGregorYachts, Latitude - N2650.624 Longitude - W8004.284, 2023 MACGREGOR YACHTS, INC. ALL RIGHTS RESERVED, The Differences Between Titling and Documenting a Vessel | MacGregor Yachts, Bank On It a 70 Tribute 2004 Custom Conve, This 36 MJM 2012 36Z Sonsie was bottom bl, This 72 Merritt 2015 My Lynn has been pai, The beautiful interior of the 120 Crescent Rais, This 29 Winter Custom Yachts 2011 Candy Ride, The beautiful 70 Lynx YXT 20 2016 Nanan Shad, This 41 Albemarle 410XF 2006 Miss Lauren, New To Market - 80 Sunreef w/Tender 2018 Nan, Lets Be Reel who doesnt want one of th. Our calculator shows you the estimated monthly payment for your boat loan, based on the loan amount, term length and interest rate you enter. Some states specifically require the tax line to identify what state the tax is for. Although, even if the purchase is not through a dealer but from a private party, Florida sales tax might not be charged. Transfer out-of-state title and purchase license plate. Florida Sales Tax Calculator. 1441 Maclay Commerce DriveSuite 200Tallahassee, FL 32312, Toll Free 800.562.4496Local 850.224.7676Fax 850.513.9624, Listing of All Approved FSLSO Coverage Codes & Descriptions, Details Policy Requirements if the Coverage is Exported, Designed for Prospective Surplus Lines Agents, Official Study Guide for State Surplus Lines Licensing Exam, Designed to Assist Agents With Filing and Compliance, Information for Insurers Regarding Statutory Compliance Filings in Florida. Florida entices nonresidents to purchase a boat in Florida by giving a tax break to those purchasers. NOTE: The optional county fee is retained by the county where the vessel is registered. legal advice nor the formation of an attorney-client relationship. The proof of ownership must include a complete description of the vessel, including manufacturers name, year, type, hull material, propulsion, fuel, use of vessel, hull identification number and length. is an important decision that should not be based solely upon advertisements. Important Terms, Conditions and Limitations apply. Florida caps the amount of boat sales tax at $18,000 no matter the purchase price. Our Sarasota County Property Tax Calculator can estimate your property taxes based on similar properties, and show you how your property tax burden compares to the average property tax on similar properties in Florida and across the entire United States. If you are planning to keep your boat in Florida, for that kind of money, it simply doesn't make sense to register your boat offshore. 247 0 obj <>/Filter/FlateDecode/ID[<3D47F71C00F5FF4F8BD91ED223FBB377><41E62EC46245A0499F9FA5B448EFEC37>]/Index[216 52]/Info 215 0 R/Length 138/Prev 252286/Root 217 0 R/Size 268/Type/XRef/W[1 3 1]>>stream The registration or documentation application may be stopped until the boat owner pays the tax. All motorized vessels operating on Floridas public waterways must be titled and registered. *Please note, this estimator should not be used for independently procured coverage (IPC) policies. Experts suggest it has even helped create and protect jobs in the Florida marine industry. As an agent for the Department of Highway Safety and Motor Vehicles, the Tax Collector is responsible for providing the necessary services and record keeping procedures used in processing vessel titles and registrations. A use tax is similar to a sales tax. may be accessed through this website. The information you may need to enter into the tax and tag calculators may include: The vehicle identification number (VIN). Sales and Use Tax on Boats Information for Owners and Purchasers GT-800005 R. 12/11 What in-state and out-of-state boat purchasers need to know. brandon fugal wife; lucky 13 magazine 450 bushmaster. Illinois: 6.25% Maryland: 5%, with a tax cap of $15,400 Michigan: 6% North Carolina: 3%, with a tax cap of $1,500 New Jersey: 3.5%, with a tax cap of $20,000 New York: Varies between 8% to 10% depending on homeport. communications sent to this Firm prior to the establishment of the attorney-client Helping the Boating Community During COVID-19, Navigating Through Tough Waters Yachting in an Economic Downturn. Designed and Developed for the web by David Brierton in the Manatee County Tax Collector Office.Last updated July 21, 2017. Your average tax rate is 11.67% and your marginal tax rate is 22%. However, purchasers from out-of-state need to plan ahead for the potential tax consequences when the boat is registered in the home state. Owners must register a boat and/or trailer within 30 days of purchasing a new or used vessel. We represent taxpayers and business owners from the entire state of Florida. * This estimate does not include any non-ad valorem fees that may be applicable (such as storm water, solid waste, etc.) If the homemade vessel is 16 feet or more in length, a physical inspection of the vessel by a member of the Fish and Wildlife Conservation Commission (FWC) must be conducted. Contact your Denison broker today for a more accurate estimate on your boats sales tax. We have defended Florida businesses against the Florida Department of Revenue since 1991 and have over 100 years of cumulative sales tax experience within our firm. For more information on derelict and abandoned vessels, visit the Florida Fish and Wildlife Conservation Commission at this link FWC. The date the vehicle entered (or will enter) the state you plan to register it in. Getting information from the Coast Guard is just one way. Within states that have different car tax rates for different cities, you pay the car tax rate based on your home address. Amortization Calculator Loan Amount Interest Rate Amortization Period Yr Mo Monthly Payment $1,880.70 Total Interest Payable $88,525.28 Total of Payments (Principal + Interest) $338,525.28 Break-up of Total Payment 73.85% 26.15% Principal Loan Amount Total Interest Bill of sale must include complete description of the vessel including manufacturers name, year, type, hull material, propulsion, fuel, use of vessel, hull identification number and length. Reduced fees are effective July 1, 2016 through June 30, 2017 only for those who register in an office. Penalties and Interest (apply when tax is not paid by the due date) Boating without that proper registration or documentation could lead to even more problems. Ready to file your taxes by April 15th? You may also be interested in printing a Florida sales tax table for easy calculation of sales taxes when you can't access this calculator. Loans are offered in amounts of $250, $500, $750, $1,250 or $3,500. Currently, Florida has a sales and use tax for boats which is set at 6% of the purchase price. No. Some states offer a reward program allowing individuals to report people. If youre thinking about buying a boat and you live in a different state than where the boat is located, you may be wondering about sales tax. Sojourner registrations are issued to vessel owners who remain in Florida for more than 90 . Use tax will probably be assessed when you register or document your boat in your home state. Just enter the wages, tax withholdings and other information required below and our tool will take care of the rest. ; it is not your tax refund. However, Florida caps the total tax amount due on a vessel at $18,000. For comparison, the median home value in Manatee County is $214,000.00. Section 705.103, Florida Statutes, states that a person who finds an abandoned vessel and wants to make claim to it, and ultimately title it, must first report it to a law enforcement officer. Example: Section 212.05, F.S., Sales, storage, use tax. Inside rack storage costs more, as the boat is inside and better protected from the elements. Florida Department of Revenue, Sales and Use Tax on Boats Information for Owners and Purchasers, Page 2 Example: If you purchase a boat in a state that has a sales tax rate of 4% , you must pay an additional 2% when you bring the boat into Florida, plus any applicable discretionary sales surtax. Sales / Use Tax (percentage of the sales price) 6.25%. Get a reliable estimate on your monthly payment with our boat loan calculator tool. The finder would then apply to FLHSMV to have the title put into his name. Vessels owned by the U.S. Government, the State of Florida or its political subdivisions. To use the calculator, simply enter the purchase price of the boat and your county of residence.The calculator will then provide you with an estimate of the sales tax owed. If the homemade vessel is less than 16 feet in length forms HSMV 82040 and HSMV 87002 must be presented along with a $5.25 titling fee (for electronic title) or $7.75 (for paper title) or $11 (expedited (fast) title). This sales and use tax guide is intended as an informal reference for clerks who wish to gain a better understanding of Tennessee sales and use tax requirements regarding motor vehicles and boats. To renew your boat or vessel registration online, you will need the following: Pin - you can find the PIN number on the registration renewal notice. Still, other states may say you do not have to pay any tax whatsoever. Tax Estimator. Owners have the option of registering their vessel for either one year or two years. What is not necessarily advertised when you purchase your boat is owing a use tax to another state. Click here to get more information. We read every comment! Rights Reserved, Section 212.05, F.S., Sales, storage, use tax, FLORIDA SALES TAX INFORMAL WRITTEN PROTEST, FLORIDA SALES & USE TAX APPORTIONMENT HANDBOOK, BOAT CAR PLANE DEALERS: FL SALES TAX FORMS. 6.00%. OF BUSINESS AND PROFESSIONAL REGULATIONS." Hillsborough County residents currently pay a 1.5% discretionary sales surtax on the first $5,000 of taxable value. With these kind of luxury accommodations onboard, it's no wonder why many decide to deduct their boat (or yacht) as a second home mortgage interest. However, if you purchase an item for resale or for use in a business, you must pay sales tax on the purchase price of the item. See Tax Identity Shield Terms, Conditions and Limitations for complete details. Kim Kavin is an award-winning writer, editor and photographer who specializes in marine travel. The buyer is not responsible for paying the sales tax on a private boat sale. The Florida use tax should be paid for items bought tax-free over the internet, bought . The tax rate is 6.25% of the sales price. Section 328.72(18), Florida Statutes, provides reduced vessel registration fees for a recreational vessel equipped with an Emergency Position Indicating Radio Beacon (EPIRB) or for a recreational vessel when the owner possesses a Personal Locator Beacon (PLB). This. If youre looking to avoid paying sales tax on a boat in Florida, there are a few things you can do. Join our mailing list to receive the latest news and updates from our team. ACCOUNTING FOR LAWYERS, AND FEDERAL INCOME TAX." * Alcoholic beverages The base state sales tax rate in Florida is 6%. While some states have very generous provisions to encourage individuals to come with their boat to the state, some states simply do not. Enter your info to see your take home pay. FL SALES TAX VS DMV - BOAT WITH OUTBOARD MOTOR, published May 3, 2015, by James Sutton, C.P.A., Esq. The key to obtaining this benefit is the purchase MUST be through a Florida dealer and all the required paperwork must be completed. The calculator will show you the total sales tax amount, as well as the county, city, and special district tax rates in the selected location. DISCLAIMER: The information provided should not be interpreted or used as a legal opinion, nor does it supersede directives provided by the state or other governing authorities. BOAT CAR PLANE DEALERS: FL SALES TAX FORMS, published June 14, 2013, by Jerry Donnini, Esq. 8875 Hidden River Parkway Boating - Title and Register a Watercraft or Outboard Motor in SC Casual Excise Tax. The decal must be affixed to the port side of the boat. Vessels used exclusively as a ships lifeboat. Powered by a Mercury engine, this Cypress Cay boat can get you to your favorite spot, or help you discover a new one. If youre a boater, youd probably rather be out cruising on the crystal-blue Florida waters than thinking about taxes. This Firm does not necessarily * Fuel gasoline, diesel fuel * Glass repair * Gym memberships * Haircuts and other personal grooming services * Home entertainment systems TVs, DVDs players,, digital converter boxes , home theater systems ,etc. In lieu of using a dealer, there is the possibility two private parties will get together to complete the transaction themselves. Applications for titles and registrations must be filed at a county tax collector or license plate agent office. FL His primary practice area is multistate tax controversy. In such a scenario, the purchaser technically owes tax to Florida on the purchase. Florida Income Tax Calculator - SmartAsset Find out how much you'll pay in Florida state income taxes given your annual income. 2023 SalesTaxHandbook. Non-motor-powered vessels less than 16 feet in length. Specifically, if a nonresident purchaser comes to Florida, buys a boat, and fills out the correct paperwork, the purchaser does not have to pay Florida sales tax on the boat. The calculator will show you the total sales tax amount, as well as the county, city, and special district tax rates in the selected location. Live wells, depth finders, outriggers and other accoutrements cater to anglers, making dedicated fishing boats the most sought-after selections for fishermen and women. Print Exemption Certificates. Another common scenario for larger boats was registering offshore, which can be costly. A vessel not exempt from titling must be titled at the same time it is registered. David received a B.S. FL New Resident Tax (applies to owner relocating from out of state to Texas) $15. In New York, you would pay taxes on the first $230,000 of the boat's purchase price. South County - 2500 34th St N, St. Petersburg, FL 33713. Ready to take advantage of this sales tax law to save on your next boat purchase? Step 3. Please select "Non-Florida" for the State in the allocation grid below for all multistate transactions with a policy effective date on or after 7/1/2020. Low around 65F. Another avenue might be individuals reporting you to the state in hopes of getting a reward. The bad news? When applying for registration, the owner must establish proof of ownership by submitting an executed bill of sale, a builders contract, a manufacturers statement of origin, a federal marine document or another document acceptable to the FLHSMV. You can also try to negotiate with the seller to have them pay the taxes, or roll the taxes into the purchase price of the boat.Finally, you can look for boats that are exempt from sales tax, such as those used for commercial fishing or chartering. If you are looking into the costs of purchasing a boat, you are in the right place. If you plan on making a boat purchase at or above $300,000, Florida is a great place to do so with this generous tax law in place. 3 0 obj However, Florida caps the total tax amount due on a vessel at $18,000. Used vessel currently titled out of state Out-of-state title accurately completed for transfer to purchaser. To accomplish as much, a purchaser must be familiar with how much his or her home state would tax the purchase of the boat. A STATEWIDE DEFENSE OF WHOLESALE TOBACCO COMPANIES AGAINST THE DEPARTMENT State B may reduce your tax bill to $2,000. If you are boating in another state, you run the risk of having to pay that state taxes as well. You can do this through a variety of different companies, but make sure that you get coverage that meets Floridas minimum requirements.Finally, youll need to familiarize yourself with Floridas boating laws and regulations. Copyright 2014 2023 Florida Department of Highway Safety and Motor Vehicles. FLORIDA SALES & USE TAX APPORTIONMENT HANDBOOK, published March 28, 2019, by David J. Brennan, Jr., Esq. This is an optional tax refund-related loan from Pathward, N.A. Sales Tax Calculator | There are a few exceptions to this rule for example, if youre buying the motor for a boat that will be used primarily for racing, you may be exempt from paying sales tax.Check with your local county tax office to find out more. Our partners are both CPAs/Accountants and Attorneys, so we understand both the accounting side of the situation as well as the legal side. We have to pay the taxes.While there is no federal tax imposed on a boat purchase, there are state and local taxes of varieties as plentiful as the perennials popping up in spring gardens.