Warning

 

Close

Confirm Action

Are you sure you wish to do this?

Confirm Cancel
BCM
User Panel

Posted: 10/5/2018 7:44:42 PM EDT
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?
Link Posted: 10/6/2018 5:28:52 AM EDT
[#1]
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.
Close Join Our Mail List to Stay Up To Date! Win a FREE Membership!

Sign up for the ARFCOM weekly newsletter and be entered to win a free ARFCOM membership. One new winner* is announced every week!

You will receive an email every Friday morning featuring the latest chatter from the hottest topics, breaking news surrounding legislation, as well as exclusive deals only available to ARFCOM email subscribers.


By signing up you agree to our User Agreement. *Must have a registered ARFCOM account to win.
Top Top