If I purchase a boat in Massachusetts and then have it re-registered in New Jersey, how does the sales tax work?
MA tax is 5%, NJ tax rate is 7.5%. Seller said I would have to pay MA tax, since I would be completing the transaction in MA. Will Jersey require me to pay them the difference?
Also, how does the fact that I'd be trading-in my NJ registered boat to complete the purchse in MA impact the taxes? Most likely trucking the boat to MA.
TIA,
MA tax is 5%, NJ tax rate is 7.5%. Seller said I would have to pay MA tax, since I would be completing the transaction in MA. Will Jersey require me to pay them the difference?
Also, how does the fact that I'd be trading-in my NJ registered boat to complete the purchse in MA impact the taxes? Most likely trucking the boat to MA.
TIA,