I am selling my old boat soon. It is a private sale. How do we deal with the sales tax? There is no mention of taxes on the 2001 title. I can see how to transfer ownership and put in a sale price but I am not sure if I need to collect it and send it in with the title transfer or if the new buyer deals with it. Thanks. Mrt.
Boats & Motors
Who collects the tax when you sell your boat?
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I know my reply is a bit late, but I hope it helps. When you sell your boat, the responsibility of collecting and paying the sales tax may vary depending on the state you live in. In some states, it is the seller's responsibility to collect and remit the sales tax, while in others, the buyer is responsible for reporting and paying it. I’d recommend checking with your local Department of Motor Vehicles or tax office to find out the specific requirements in your state. Another thing to consider is creating pay stubs to confirm the amount of income you received from the sale. This can be especially helpful when it comes to correctly calculating the amount of tax you need to pay on the sale.
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