I'm a Utah resident. Lets say I buy a boat in California and keep it in San Diego. What are my taxes going to run. Obviously sales tax on the purchase, but I understand there's a tax every year as well. Using an easy number say $100,000, what am I looking at for taxes?
How do they put a value on something like a boat? Sales price? Book Value?
I guess the same thing would apply to something like the purchase of an airplane?
If I buy a $50K boat and put $50K into improvements, how would I be taxed?
I think that there is some kind of a "luxury tax" but I'm not sure how much it is.
There is a sales tax on a boat when you buy it and then a yearly registration fee = like a registration tag on your car and a registration fee for your trailer too.
"Proposition 6" is on the ballot this year addressing some of this taxation BS. It repeals the current gas tax and vehicle registration increases and prevents further tax increases without approval from the voters first.