[C320-list] Update on boat purchase - Taxes

[Jane & Ken]

Brad,  Two slips from Warren Updike (next to last paragraph).  Ken  #219

--- On Wed, 6/17/09, hcreech at comcast.net <hcreech at comcast.net> wrote:


From: hcreech at comcast.net <hcreech at comcast.net>
Subject: Re: [C320-list] Update on boat purchase - Taxes
To: C320-List at Catalina320.com
Date: Wednesday, June 17, 2009, 8:46 AM


Brad,  
Where will you be keeping your boat on Middle River? 


Herb Creech  
Cloud Chaser #606 
Bowley Quarters Marina C-74 
Author of "Pooles Island" 


----- Original Message ----- 
From: "Brad Kuether" <bkuether at comcast.net> 
To: C320-List at Catalina320.com 
Sent: Wednesday, June 17, 2009 7:38:11 AM GMT -05:00 US/Canada Eastern 
Subject: [C320-list] Update on boat purchase - Taxes 

Hey Everyone, 

Here is an update. 

First from the Maryland side, quote from the DNR: 

"In order to receive the offset against the 5% Maryland excise tax, the boat 
must be formally titled in the state of purchase, in the name and address of 
the new owner, taxes paid, and tax forms recieved and presented". 

So if the outside state of purchase will NOT let you walk away with the boat 
without paying taxes, you MUST take ownership, and have it titled in your 
name, pay taxes, and be able to present those tax forms to the Maryland DNR 
when doing the title change in Maryland.  They will credit you up to the 
amount paid, and if less than 5% you owe Maryland the balance.  (this is 
fair) 

>From the Illinois side: 

"The boat can be purchased from an Illinois owner or broker, without any tax 
implications, as long it is removed from the state within 30 days after the 
paperwork is signed.  ALSO, the dealer should be provided with the Maryland 
(or other outside state) tax forms, as proof taxes were paid. 

So in the end, I am paying 5% Maryland instead of 6.5% Illinois tax.   A 
happy ending indeed. 

Survey is set for the last week in June, boat (hull 1006) will be shipped on 
July 12th to Maryland Marina, two slips over from Warren Updike's "Wal de 
Mar". 

The kids are out of their minds, "when can we sleep on it", "I want to sit 
in the seats!", "Can we take this boat really far away, like China?" 

-Brad, Mary, Monica, and Jarod 
soon "Independence 1006" 
Middle River, MD