Forums
New posts
Search forums
What's new
New posts
New Trophy's
New trophy room comments
Media
New media
New comments
Search media
Members
Current visitors
New profile posts
Search profile posts
Classifieds
Trophy Room
New items
New comments
Latest content
Latest updates
Latest reviews
Author list
Series list
Search showcase
Log in
Register
What's new
Search
Search
Search titles and first posts only
Search titles only
By:
New posts
Search forums
Menu
Log in
Register
Install the app
Install
Forums
Tennessee Fishing Forums
Watercraft
Registering one from out of state
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
<blockquote data-quote="TNReb" data-source="post: 5368894" data-attributes="member: 676"><p>When I bought my last boat out of state my county clerk required a bill of sale.</p><p></p><p>Random story…</p><p></p><p>I know a guy who bought a used boat and the seller signed a "blank" bill of sale and told the buyer to fill in whatever amount he felt comfortable paying taxes on.</p><p></p><p>Fast forward a ways…</p><p></p><p>The seller got audited for some reason or another. They saw the deposit from where he sold his boat.</p><p></p><p>They followed up to make sure the buyer paid taxes on that amount. He hadn't. He wrote in a much lower amount on the bill of sale and paid taxes on much less. He got caught.</p><p></p><p>It's not likely, but it's the risk you take.</p><p></p><p>You could consider having separate bills of sale written for the "boat" and "accessories" (electronics, etc). A CPA will advise against that too. <img class="smilie smilie--emoji" loading="lazy" alt="😜" title="Winking face with tongue :stuck_out_tongue_winking_eye:" src="https://cdn.jsdelivr.net/joypixels/assets/8.0/png/unicode/64/1f61c.png" data-shortname=":stuck_out_tongue_winking_eye:" /></p></blockquote><p></p>
[QUOTE="TNReb, post: 5368894, member: 676"] When I bought my last boat out of state my county clerk required a bill of sale. Random story… I know a guy who bought a used boat and the seller signed a “blank” bill of sale and told the buyer to fill in whatever amount he felt comfortable paying taxes on. Fast forward a ways… The seller got audited for some reason or another. They saw the deposit from where he sold his boat. They followed up to make sure the buyer paid taxes on that amount. He hadn’t. He wrote in a much lower amount on the bill of sale and paid taxes on much less. He got caught. It’s not likely, but it’s the risk you take. You could consider having separate bills of sale written for the “boat” and “accessories” (electronics, etc). A CPA will advise against that too. 😜 [/QUOTE]
Verification
Post reply
Forums
Tennessee Fishing Forums
Watercraft
Registering one from out of state
Top