Boilermaker75
Veteran Member
- Joined
- Dec 23, 2018
- Messages
- 85
- Location
- USA
- Vessel Name
- Kimberly Dawn
- Vessel Make
- 1984 Marine Trader 40 Sundeck Trawlet
After more than a year searching and researching, I think I'm finally close to making an offer an negotiating to purchase a 40 trawler -- one step closer to starting my Great Loop adventure ;-)
My three previous boats -- all trailerable 17' - 24.5' -- were all registered in whatever state I happened to reside in at the time (IN, WI, MO, or IL) -- not only because I lived in and file state income tax returns in that state, but also because I kept the boat on the trailer and used the boat primarily in that state (excluding "vacation" trips with the boat in tow to NC, MI, TN/KY, etc.).
Can anyone tell me the pros and cons of documenting my new 40' trawler through the US Coast Guard versus registering it in IL where I live or in WI or IN where I'm more likely to keep the boat and call "home port?" What's the advantage(s) and/or disadvantage(s) of having the boat federally USCG-documented versus state-registered?
WI, IL, and IN all have state sales/use tax rates within 1% - 1.5% of each other, so my question has little or nothing to do with trying to avoid sales/use tax. However, I DO have a state sales/use tax question: If I purchase the boat from an individual (through their yachtworld.com listing agent/broker) in GA as an out-of-state buyer, will I be expected to pay the 7% state/local sales tax there or not until I finally bring the boat back to either WI, IL, or IN (and then pay that state's 5.5%, or 6.5% or 7% sales/use tax, respectively)?
Thank you all in advance for sharing your knowledge and experience on this matter.
My three previous boats -- all trailerable 17' - 24.5' -- were all registered in whatever state I happened to reside in at the time (IN, WI, MO, or IL) -- not only because I lived in and file state income tax returns in that state, but also because I kept the boat on the trailer and used the boat primarily in that state (excluding "vacation" trips with the boat in tow to NC, MI, TN/KY, etc.).
Can anyone tell me the pros and cons of documenting my new 40' trawler through the US Coast Guard versus registering it in IL where I live or in WI or IN where I'm more likely to keep the boat and call "home port?" What's the advantage(s) and/or disadvantage(s) of having the boat federally USCG-documented versus state-registered?
WI, IL, and IN all have state sales/use tax rates within 1% - 1.5% of each other, so my question has little or nothing to do with trying to avoid sales/use tax. However, I DO have a state sales/use tax question: If I purchase the boat from an individual (through their yachtworld.com listing agent/broker) in GA as an out-of-state buyer, will I be expected to pay the 7% state/local sales tax there or not until I finally bring the boat back to either WI, IL, or IN (and then pay that state's 5.5%, or 6.5% or 7% sales/use tax, respectively)?
Thank you all in advance for sharing your knowledge and experience on this matter.