First time buyer looking for advice (in California)

[kvvmpu]

I'm about to buy my first boat and its 2004 Maxum 2000 SR3 (20'). Loved tryout and right now getting all those small (and big) things figured out. My question is about use tax I have to pay when registering. Is it based on the price that was recorded in the bill of sale? What is the price I should recored there since I'm buying not only boat, but trailer and lots of toys with it.
Any advice and tips will be most appreciated. Thanks in advance.

[shrew]

hi KVVMPU, and welcome to teh site. Though it does say 7 posts, so this may be late or maybe I've already said hello. I cna never remember.

I suspect the use tax is going to be based on the price on the Bill of Sale. You might want to ask them to write a seperate Bill of sale for the trailer and the boat. In many states (Note these regulations vary by state) you might have a hard time registering the trailer without a Bill of Sale. I would certainly check with the DMV first. If you can, try to get the seller to split the boat, trailer and misc items onto three Bill of Sales, that way you reduce the use tax on the boat, and are more easily able to both register and sell the trailer at a later date. Combining boat, toys and trailer onto one bill is messy, in my opinion.

[kvvmpu]

Thank you for the reply. I'm thinking of doing same way you described. Was trying to get any feeling from ppl who actually done that. I'll get busy on those bills...

[Brianm]

Not quite sure I can help with your question but wanted to say "welcome" and "congrats" on the boat. I am in Southern California and bought my boat / trailer new (left over) from dealer as a package. Not quite sure upon what basis / cost my property tax bill was calculated on as I am not at home to look now. I can say that the annual tax bill is not very much - nor was the registration for the boat (every 2 years I believe) and trailer (lifetime). Good luck and be safe.