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Sales Tax - Definition
Property Tax - Definition
Use Tax - Definition
State Boating Requirements

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Excise Tax WikiTags WikiShare

BoatWiki - Definitions

Definition

Excise tax as it applies to boats can be defined as an assessment for the privilege of operating on the waters of a particular state. Collection thereof is typically incorporated into the boat's periodic registration fees.

Meaning

The terms excise, property, use, and sales taxes are frequently confused with each other. They are all, however, a means or method for the collection of revenues attributed to the operation of a boat on the respective state's waters.

Context

The types of boat taxes, assessments, and requirements may vary considerably on a state by state basis. In any event, excise taxes are usually imposed at different rates and set apart from sales, use, and property taxes.

Conclusion

Although legitimate tax exemptions are still a factor, many of the earlier loopholes for avoidance have been eliminated. It may accordingly be worthwhile to consult with a tax professional in the jurisdiction where the boat will be operated. BoatWiki has various resources for finding such information, but keep in mind the rules and rates are ever changing.

Credits and References

2/23/2022 - Page initiated by Team BoatWiki.
4/24/2022 - Page revised on Team BoatWiki review.

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