capt jake Posted February 22, 2003 Posted February 22, 2003 little exerpt of what i think I will have to go through..... "Additional fees for vessels 16 feet and over is excise tax based on .5% of the fair market value (purchase price if it reflects fair market value), unless exempt from excise tax. The registration period is July 1st through June 30th of the following year. Excise tax will be assessed from July 1st of the current registration period, unless the vessel just entered the state, was just purchased, or is under 16 feet. All vessels will be subject to sales/use tax, unless you paid sales/use tax to another state or the boat is being used exclusively in bare boat charter." Ehh Gads!!! How complicated is that?? i looked at teh tax schedule, and it was even more confusing. Sounds like either they assess the value or I have to have a servey done.. Quote
capt jake Posted February 22, 2003 Author Posted February 22, 2003 "If your boat is home made, use tax is calculated using the fair market value. You are entitled to receive credit against the use tax for any sales tax you paid on any materials used to build the boat." Now I know Tim was outraged by this, now so am I!!!! Yup, they are going to tax my own labor!!!! How about that for insightful government! I wonder if they will report it as income to the feds??? Quote
Frank Hagan Posted February 22, 2003 Posted February 22, 2003 Hey! Don't give them any ideas! We should get all our little home-built boats together and have a little tea party of our own. (we'll have to use bio-degradable tea, of course.) Quote
B Wilkins Posted February 22, 2003 Posted February 22, 2003 I am really not looking forward to registering my little boat. I think I have even slowed down on finishing it up, because of it. Jake, someone did tell one time to just take in all of the receipts for construction and it is painless. :wink: I really don't know about that. Bryan Quote
capt jake Posted February 22, 2003 Author Posted February 22, 2003 I think that person was Tom Nelson. When I get there, I am certainly taking in the carton of receipts, and letting them wade through them! Quote
Guest Posted February 22, 2003 Posted February 22, 2003 Lets look at fair market value. Ask them how much they would pay for your boat? Go get a surveyor or a buc book of wooden boat values. Call your insurance companies and get a letter from them of what they would give you in full replacement for your boat if a total loss. With these letters, if you can get some, wil share some info to the proper authorities that on a good day, 2,000 dollars will be the most on a generous day. Then offer the 5% of said value minus the sales tax you paid on any materials. I bet they will bite. Show them pictures of it in progress. Most novice ones will not be too impressed with fairing compound and spot primers. Take your kids picture with the unfiinished hull. Quote
capt jake Posted February 22, 2003 Author Posted February 22, 2003 Most novice ones will not be too impressed with fairing compound and spot primers. Take your kids picture with the unfiinished hull. Now there is one great thought!! I have to do that!! Quote
Guest Posted February 22, 2003 Posted February 22, 2003 Are you able to get your numbers before you finish the boat? Hint? Quote
capt jake Posted February 22, 2003 Author Posted February 22, 2003 You are refering to hte value numbers ?? Maybe a couple of 'expert witnesses' are in order here!! Maybe a few letters from other Weekender builders? Attesting to there 'lousy' value (for tax purposes only)?? :D Now watch!! Derek will probably work for DOR!! I know he works for the State, don't know which division. Derek, any insight on this??? You have been awefully quiet lately!! Quote
Derek Posted February 22, 2003 Posted February 22, 2003 Hey I heard that! Actually wife works for the state. I work for State retirees. I get to spend my time fighting legislators! Quote
capt jake Posted February 22, 2003 Author Posted February 22, 2003 AND...... Wife works for state? Any helpfull tips from her?? My wife works there as well, but no help. Retirees?? Well I hope you are investing my money wisely!! Quote
Guest Posted February 22, 2003 Posted February 22, 2003 Well, the facts are that small wooden hulls used DON'T bring big bucks. Try checking with Port Towsend yacht brokers listing to compare some ASKING prices and then selling prices. It's all public in our area with sales tax with the state. Nothing illegal about this at all. In our area, many downeasters will get their paperwork well in advance because it take so blessed long. We pay a flat rate for our numbers period on small hulls labeled homemade. Quote
Derek Posted February 22, 2003 Posted February 22, 2003 Wife works for General Admin/Campus Facilities. Not must aid in tax issues. She gets to deal with all the budget cut crap. I only work with PERS retirees, your in LEOFF correct? Quote
capt jake Posted February 22, 2003 Author Posted February 22, 2003 LEOFF be right! LEOFF II as in LEFT out of LEOFF I! LOL Paint next week, maybe you might want to come over and take a peek later next week?? Quote
Derek Posted February 22, 2003 Posted February 22, 2003 Yeah! Been watching your album. Payday was Friday, cleaned up garage today, going to try to get either keel wood or bottom/bulkhead ply to get going. I checked into that registration thing too. Hydro is propelled so it requires registration. Will probably put that off till I am ready to put it into the water (warmer weather). Quote
Knut Posted February 23, 2003 Posted February 23, 2003 I don't know how different Florida may be to other states, but the 16' limit is here between need for inspection and not. I put into the paperwork a hull length of 16' 9" and I was prepared to show the deck-layout to prove it (to avoid a discussion about the stem/support sticking forward as part of the bowsprit). I did not get challenged on this. Then, as soon as there is a motor on the boat has to be registered regardless of length, so I filled in all the paperwork, brought the whole file of purchase documentation, printed some photos from the building process and showed up at the Tax Collector's office. The nice lady wanted to see the invoices for the motor, for the main lumber-purchase and the rest she just paged quickly through. What was important here was to show that sales tax had been added (and was showing on the invoice). The outboard cost me an extra 35 $ because sales tax was not specified! With my driver's licence and the above paperwork I had it all done over the counter in about 15 minutes. Great relief, no inspection, Hurrahhh! Quote
Frank Hagan Posted February 23, 2003 Posted February 23, 2003 California's the same way. As long as you bring in the receipts showing you paid sales tax, and a picture of the boat, they'll issue you the numbers and charge something like $14 registration fee (then the county tax assessor sends you a form to tax you on the value of it). I had a lot more trouble trying to register a boat trailer I bought from an estate sale ... seems the DMV needed the guy's signature, and wouldn't accept the Executor's signature (unless the deceased could vouch for the Executor and confirm that she really was the person to handle it). I finally got through to them that "dead men tell no tales" nor do they sign affidavits. Actually, it was my wife who got through to them (she deals with the government daily in her job, so she's able to speak their language.) Quote
capt jake Posted February 23, 2003 Author Posted February 23, 2003 Well, the $14 registration fee is more like $26 here!! Who knows what is to follow?? This taxation thing is way out there!!!! Quote
Frank Hagan Posted February 23, 2003 Posted February 23, 2003 BTW - any of you who have gone through this lately: if you have the inclination, check out our "Registering Your Home Built Boat FAQ" and suggest any corrections from your experience. I hope to someday get all 50 states and the Canadian provinces as well (and anyone else, for that matter, just in case the Land of OZ and the Kiwis are also "blessed" with licensing requirements). Quote
capt jake Posted February 23, 2003 Author Posted February 23, 2003 Well I'll be!! Isn't that a dandy. I never saw that before. Is it a hidden link? ??? I must pry further to see what else Frank has up his sleeve!!! :) Quote
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