Bass Fishing HomeBass Fishing Forums

Go Back   BassFishin.Com Forums > Serious Conversation Only > Bass Boats, Trailers & Setups

Reply
 
Thread Tools Rate Thread Display Modes
Old 03-08-06, 09:29 PM   #1
angelus40
BassFishin.Com Active Member
 
angelus40's Avatar
 
Join Date: Aug 2005
Location: Cincinnati,Ohio
Posts: 436
Default taxes on a boat

ok i have a question if i win this bassboat from BPS
how much do i have to pay for taxes
angelus40 is offline   Reply With Quote
Old 03-08-06, 09:55 PM   #2
lizardsrule
BassFishin.Com Premier Elite
 
lizardsrule's Avatar
 
Join Date: Sep 2003
Location: Saint Augustine, FL
Posts: 7,374
Default

Depends on the value of the boat, but usually taxes are based on income. So if you made say 40k a year, odds are you're gonna pay around 30-45% taxes on that. Just an estimate, soemtimes state taxes aren't as high depending on where you live. I want to see just one time, they give you the boat, and enough money for the taxes, so it really is free. But hey you could become a guide, and then you got a write off LOL

Lizards
__________________
There are three types of Snakes I hate 1. Live Snakes 2. Dead Snakes 3. Sticks that look like Snakes. And Gators too!
lizardsrule is offline   Reply With Quote
Old 03-08-06, 11:38 PM   #3
bassintom
BassFishin.Com Super Veteran
 
bassintom's Avatar
 
Join Date: Jul 2003
Location: washington(northwest) N.J.
Posts: 3,958
Send a message via AIM to bassintom Send a message via Yahoo to bassintom
Default

then probably sales tax if your state has that...like mine.
__________________
A man's gotta believe in something...I believe I'll go fishing.
bassintom is offline   Reply With Quote
Old 03-08-06, 11:44 PM   #4
angelus40
BassFishin.Com Active Member
 
angelus40's Avatar
 
Join Date: Aug 2005
Location: Cincinnati,Ohio
Posts: 436
Default

it's 6.5% here.. lizard you'll be my first customer
angelus40 is offline   Reply With Quote
Old 03-09-06, 07:09 AM   #5
1FASTLASER
BassFishin.Com Super Veteran
 
1FASTLASER's Avatar
 
Join Date: Aug 2005
Location: crossett,arkansas
Posts: 2,777
Default

Here in arkansas you have topay ssales tax on the manufacturers suggested retail (which we know is higher than you actually pay for it) plus the taxes for title and registration. LOL so it aint free just minus the cost of the boat.
__________________
Laser's rule with Merc's doing the pushing..........KEEP THE WETSIDE DOWN AND THE DRY SIDE UP!!!!!!
1FASTLASER is offline   Reply With Quote
Old 03-09-06, 09:32 PM   #6
bass kicker
BassFishin.Com Super Veteran
 
bass kicker's Avatar
 
Join Date: Oct 2005
Location: Beamsville,ONTARIO,CANADA
Posts: 2,023
Default

i dont think we pay that much on prizes in canada
__________________
Rob Downs
St. Catharines BASSMASTERS
bass kicker is offline   Reply With Quote
Old 03-09-06, 11:42 PM   #7
ddc_5114
BassFishin.Com Member
 
Join Date: Sep 2005
Location: san antonio, tx
Posts: 30
Default

Here in Texas you have 10 days before it has to be titled. So if you sold it before that 10 days were up you do not have to pay sales tax. However I never heard about having to claim it on income tax.
ddc_5114 is offline   Reply With Quote
Old 03-10-06, 02:38 PM   #8
Jackl
BassFishin.Com Super Veteran
 
Join Date: Jan 2002
Location: Great Bend, KS
Posts: 2,960
Default

ANGELUS,
I believe you would be required to pay sales tax based on the Manufactures Suggested Retail price at the time you register the boat, then you would have to pay State and Federal income tax on that amount as part of your yearly income at tax time.

JackL
__________________
There are two theories about argueing with women...........Neither one works!
Jackl is offline   Reply With Quote
Old 03-10-06, 05:19 PM   #9
angelus40
BassFishin.Com Active Member
 
angelus40's Avatar
 
Join Date: Aug 2005
Location: Cincinnati,Ohio
Posts: 436
Default

thanks Jackl... man that's alot of taxes
angelus40 is offline   Reply With Quote
Old 03-10-06, 05:35 PM   #10
zooker
BassFishin.Com Premier Elite
 
zooker's Avatar
 
Join Date: Jan 2004
Location: denton nc
Posts: 13,441
Default

but if ya think about it a $30,000 boat is dirt cheap at $1800-at 6% sales tax- registration and tags add $200 more. all of this is tax deductable. here in nc you have to pay an addional tax on the boat value..the nc plate tax.

zooker
__________________
the godfather..
aml in remission since 7-20-09
zooker is offline   Reply With Quote
Old 03-10-06, 08:23 PM   #11
bass kicker
BassFishin.Com Super Veteran
 
bass kicker's Avatar
 
Join Date: Oct 2005
Location: Beamsville,ONTARIO,CANADA
Posts: 2,023
Default

hey what ever the tax is it is less then having to buy the boat
__________________
Rob Downs
St. Catharines BASSMASTERS
bass kicker is offline   Reply With Quote
Old 03-10-06, 10:23 PM   #12
lizardsrule
BassFishin.Com Premier Elite
 
lizardsrule's Avatar
 
Join Date: Sep 2003
Location: Saint Augustine, FL
Posts: 7,374
Default

Lots of folks have to take out a loan, just to pay the taxes when they win big things, or sell it to pay the taxes.

Lizards
__________________
There are three types of Snakes I hate 1. Live Snakes 2. Dead Snakes 3. Sticks that look like Snakes. And Gators too!
lizardsrule is offline   Reply With Quote
Old 03-10-06, 11:08 PM   #13
bassintom
BassFishin.Com Super Veteran
 
bassintom's Avatar
 
Join Date: Jul 2003
Location: washington(northwest) N.J.
Posts: 3,958
Send a message via AIM to bassintom Send a message via Yahoo to bassintom
Default

you're probably lookin at 9k+ in fed.income tax..
you won't win it anyway......the fishing dept managers brother-in-law is getting it.
__________________
A man's gotta believe in something...I believe I'll go fishing.
bassintom is offline   Reply With Quote
Old 03-11-06, 01:54 AM   #14
angelus40
BassFishin.Com Active Member
 
angelus40's Avatar
 
Join Date: Aug 2005
Location: Cincinnati,Ohio
Posts: 436
Default

the boat is worth $32,250... i can buy a new car for that
angelus40 is offline   Reply With Quote
Old 03-11-06, 06:50 AM   #15
1FASTLASER
BassFishin.Com Super Veteran
 
1FASTLASER's Avatar
 
Join Date: Aug 2005
Location: crossett,arkansas
Posts: 2,777
Default

ZOOK

You got it figured out buddy. LOL just got to get the money for uncle sam course he aint know uncle of mine the theif.
__________________
Laser's rule with Merc's doing the pushing..........KEEP THE WETSIDE DOWN AND THE DRY SIDE UP!!!!!!
1FASTLASER is offline   Reply With Quote
Reply

Disclosure / Disclaimer
Before acting on the content posted, you should know that BassFishin.Com may benefit financially and otherwise from content, advertising, links or otherwise from anything you click on, read, or look at on our website. Click here to read our Disclosure Policy and Disclaimer.


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes Rate This Thread
Rate This Thread:

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT -4. The time now is 01:33 PM.


Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2024, vBulletin Solutions, Inc.
© 2013 BassFishin.Com LLC