All boat sales and deliveries in this state are subject to Floridas 6 percent sales and use tax unless exempt.

Yacht sales tax. California sales and use tax in San Diego County effective April 1 2019 is 775. Some might be a little more and others a little less but Florida has a flat sales tax rate of 6. When it comes to flat rates the North Carolina sales tax on boats is 3 percent but capped at 1500 and in New Jersey its 33125 percent but in Florida its 6 percent and in Texas its 625 percent.

If youve ever considered buying a yacht for a business or purchasing a yacht to be placed in a charter fleet now is the time to take advantage of this new legislative benefit as the window on the TCJA is closing. Boat Sales Tax Cap Passes Florida State Legislature Awaits Governor Crists Signature Founded in 1987 the Florida Yacht Brokers Association FYBA has grown to become one of the worlds largest organizations of professionals engaged in the practice of selling and buying boats and yachts of all sizes and types. Floridas 6 sales tax applies to all boats with a maximum tax of 18000 on the sale or use of any vessel.

This includes both sales and use tax and discretionary sales surtax. Those prices range from 05-15 but cap at 5000. For sales tax purposes a boat dealer and yacht broker are the same.

Depending on which county the boat is delivered to Discretionary Taxes come into play. On a 500000 boat that equates to a significant tax of 38750. And on top of those rates your municipality or county may.

Thus buying the membership interest of an LLC with its sole asset of a 500000 boat saves 38750 in taxes. The federal government estimated that it would raise 9 billion in excess revenues over the following five-year period. Congress enacted a 10 percent luxury surcharge tax on boats over 100000 cars over 30000 aircraft over 250000 and furs and jewelry over 10000.

Sales tax is imposed at the time of purchase or transfer. The buyer must pay sales tax to the seller and each seller must collect from the buyer the full amount of the tax. Maximum Tax The maximum tax on the sale of a boat or vessel is 18000.