Outboard motors purchased from dealers (private party sales are exempt from sales tax requirements). Latest. Updated: May 6, 2019. (For example, if you purchase a boat on Jan. 15, sales tax is due on Feb. New Yorkers, for instance, pay sales tax on only the first $230,000 of a purchase price—or 8.25 percent, in most counties. What the sales tax exemption on boats means for Rhode Island and the boating industry is opportunity, Rich said. It was built in New Zealand by Friendship Yachts. Registrations only for 13' and under. People are attracted here because of the absence of the tax, which means a lot more money is going into the state’s economy and into the boating industry. Travel. Developing a Predator State of Mind. Rhode Island is one of the most boat-tax-friendly states in the nation with no sales, use or property taxes on boats. Charter Fishing in a Pandemic. Rhode Island repealed those taxes in 1993. RHODE ISLAND No Sales Tax on Used Boats 7% on New Outboard Motors Registrations www.dem.ri.gov 401-222-6800 This is a Title State Registration Only for Documented Boats Titles are issued for non-documented Boats 13'1" and over which they will round up to next even footage on the Title & Registration. This document will require notarization. Even if the sale occurred in Rhode Island, R.I. Gen. Laws § 44-18-30(48) exempts the sale of boats from sales and use tax. Wade noted the vessel was designed by Rhode Island boat designer Ted Fontaine and purchased in the state. Boats. Florida caps the amount of boat sales tax at $18,000 no matter the purchase price. PRIOR to titling and/or registering your boat with the DEM, you'll need to pay sales tax, which is 7% of the purchase price, at the Rhode IslandDivision of Taxation's main office on:. The sales tax would be a one time tax on the purchase of an item. Travel. The Rhode Island Vessel Bill of Sale is a legal document that will provide proof that a watercraft has been sold and purchased.The form will provide needed information about the seller, buyer, change of ownership and identification of the boat. AND; Vessels purchased before July 29, 1993. If sales tax is late, you will be subject to interest and penalties. 20.) If you physically buy the boat in Rhode Island you would owe no sales tax on it. Sales Tax Insurance Proceed Letters: Are no longer accepted by the Division of … A Faux Teak Future in Boatbuilding. Sales tax is due on the 20th day of the month following the date of purchase. Delaware and Rhode Island do not require a sales tax at all, and in some states, sales tax is only applied up to a certain amount of the boat’s purchase price. Remember When: A Lifetime Spent at Sea. By Raleigh P. Watson. Title & Register Your Vessel in RI. That has made the state something of a nautical tax haven. Massachusetts sales tax is 6.25% of the total purchase price. Excise tax section can be reached at 401-574-8955 or via email tax.excise@tax.ri.gov. Kerry spokesman David Wade said Friday the boat … Rhode Island, for example, has no sales tax on boats. More Boats. Rhode Island does have a Sales and Use Tax (7%) it simply doesn't apply to a boat purchase. Travel. There may be several ways to minimize or avoid sales and use taxes when buying a boat. A Department of Revenue spokesman said Kerry would be liable for Massachusetts taxes if he berthed the boat in … If the sale does not occur in Rhode Island (i.e., the Lessees do not receive the boat in Rhode Island), no Rhode Island sales or use tax would be due. This makes it a popular place for yachting enthusiasts to purchase summer homes along scenic Narragansett Bay - one of the best places to sail in the Northeast. Means for rhode Island boat designer Ted Fontaine and purchased in the nation with sales. 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