underwood
02-25-2002, 11:49 AM
Do you have to pay sales tax on a used boat in Minnesota. Is it differnt if you buy from a dealer rather then a private party.
AquaMan
02-25-2002, 11:53 AM
No sales tax if you buy from a private party. You still have to pay for the boat licnense though. If you buy from a dealer, you pay sales tax wheather new or used.
AquaMan~~~~~~~~~~~~~~~~~~~~~
Just turning cash into water!
punch1
02-25-2002, 12:03 PM
In "Taxconsin", you have to pay the state's 5% sales tax, if applicable, the .05% county tax, and in some counties, the extra .005% stadium tax on all new and used car and boat purchases.
That means if you buy a new boat for $20,000, you will pay a minimum of $1,000 for taxes plus registration. Now lets say I buy your boat one year later for $15,000. I then would pay $750 in taxes. If I sell the boat two months after that for $15,000, the new buyer would then pay $750 in taxes and so on.
I think that is absoulutely ridiculous! Once an item has been taxed, it shouldn't be repeatedly taxed over and over after it changes hands. That's our wonderful Wisconsin for you though!
yellowlab
02-25-2002, 02:51 PM
You do not pay sales tax on the boat but you do on the trailer (at least that is how it worked last year). They will ask you to estimate how much the trailer was if you purchased boat, motor, trailer as a package.