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.

Florida yacht tax. And within 90 days after the boat enters Florida when it is documented licensed titled or registered in another state. Still other states may say you do not have to pay any tax whatsoever. Yacht owners are therefore exempt from use tax by registering their boats offshore and bringing it to Florida under a cruising license but if they decide to sell Florida state law does not allow vessels under a cruising license to be put on the market unless the relevant use tax is paid or a registered brokerage assumes care and control of the boat.

Florida for example has such a provision that caps the tax to 18000. If a salesuse tax were due it would be 6 of the purchase price capped at 18K less any amounts paid towards sales taxes in another state. An offshore closing is another option for buyers who wish to avoid sales tax especially when dealing with boats of considerable value or for owners who plan to travel constantly or register the boat in a foreign location.

The lesson here is to have proper budgeting of the tax that is owed. Because Florida is such an important destination for East Coast boaters we have discussed its taxation scheme several times in the past. Sales tax use or registration tax and personal property tax.

The following fees are assessed when applying for a Florida Certificate of Title in addition to registration fees and any applicable sales tax. Floridas 6 use tax plus any applicable discretionary sales surtax is due on a boat used or stored in Florida when. Florida state rate s for 2021.

If you are planning to keep your boat in Florida for that kind of money it simply doesnt make sense to register your boat offshore. If you are looking into a superyacht purchase the cap for sales tax in Florida is 1800000. The use tax can be applied under a number of different situations.

Florida has been losing boat sales and service business and revenue to other states and countries that offered. Since July of 2010 Florida caps sales tax on a vessel at 18000. FLORIDA TAXES State SalesUse Tax 6 Discretionary SalesUse Tax 0 - 75 Depending on County NOW CAPPED AT 1800000 Per Boat Property Taxes on Boats None Florida Issues Titles on Boats that are Not Documented Documented Boats Are Required to be Registered CRUISE FLORIDA TAX FREE FOR 180 DAYS.