Anything wrong with this boat registration plan?

[AndrewA2]

I'm sure every other country could say the same for the hordes of foreigners who use their infrastructures....

Similarly I don't think Costco sends funds to the Bahamas to help the local businesses due to all the cruisers who pre-provision to save spending more money at their local stores ....

[Dougtiff]

I have often wondered how MEGA YACHTS with Foreign flags are able to stay in the states for LONG periods of time, i get they are registered out of the country, even if built here to eliminate taxes, can you imagine what the sales tax would be on say a 20 million dollar yacht !

[Sand crab]

Originally Posted by Dougtiff

I have often wondered how MEGA YACHTS with Foreign flags are able to stay in the states for LONG periods of time, i get they are registered out of the country, even if built here to eliminate taxes, can you imagine what the sales tax would be on say a 20 million dollar yacht !

They have paid crews to move them around all the time. There was some news awhile back about a public figure who has several yachts but not one was registered in the US even though they are here. FWIW Florida does have a cap on sales tax at $300,000 purchase price so anything over that is tax free.