Quote:
Originally Posted by Ironwoodtuna
Last year in Montauk, The IRS came knocking on the doors of all the New York Charter captains and found that they had used the federal registration to not pay NYS sales tax. I heard that many had to pay tens of thousands of dollars in taxes and penelties upto $90K...WOW don't F*&K with Uncle Sam's IRS! Just pay it up front!
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I don't know why the IRS would come knocking. More likely the State of NY, as it is a state sales tax. To my knowledge there is no Fed sales tax - yet. Documentation is required for boats over 5T or when required by banks. I guess hull registrations aren't as traceable.