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Taxes & Finances

Links related to boat taxes and finances.

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Web Link BoatUS - State Taxes
A site to show grace periods in every state as well as current sales tax rate and credits from other states.
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Web Link MAINE WATERCRAFT EXCISE TAX
Summary by Norm: as of August 1st 2010: A Maine resident pays a 5% sales tax on purchase, if he/she pays less or none in another state he/she pays a 5% use tax if he/she brings it into state waters. He/she pays an annual excise tax, (42' sail boat pays one hundred eighty two dollars) (This is in lieu of a personal property tax.) An out of state resident who has his/her boat in Maine for more than 75 days is subject to the same. (Enforcement is very spotty as it is done by the municipalities) Out of state residents who purchase a boat in Maine and remove the boat from the state within 30 days of delivery pays no sales tax. (However their home state may try to collect a tax because none has been paid.) Out of state residents who purchase a boat in Maine and wish to leave the boat in Maine longer than 30 days after delivery will pay a 2% use/sales tax. One must read the whole document, (not snip-its!) and keep it in context. There are many exemptions.