Getting A Yamaha 242 Limited "Documented" By USCG

[Marc Haycook]

I doubt the Yamaha 242 Limited in over the 5 net ton figure, but has anyone gotten a jetboat documented..? I am looking at buying soon at the savings on taxes is over $4,000.

EDIT: I was interrupted while posting and I cannot figure out how to change the title of this thread. I apologize, but I'd love to correct it - if possible.

 

[Gray]

I doubt the Yamaha 242 Limited in over the 5 net ton figure, but has anyone gotten a jetboat documented..? I am looking at buying soon at the savings on taxes is over $4,000.

EDIT: I was interrupted while posting and I cannot figure out how to change the title of this thread. I apologize, but I'd love to correct it - if possible.

How does "documented" save on taxes?

(I know it often removes the requirement for registration.)

 

[Marc Haycook]

In Missouri, if the boat is documented, you pay an "in-lieu" fee instead of sales tax.

https://dor.mo.gov/motorv/fees.php#watercraft

For a boat of this price I would only pay $1400 in taxes, as opposed to the nearly $5000 in sales taxes.

 

[Betik]

I am completely confused but I will monitor anything that helps me save on taxes.

 

[Gray]

In Missouri, if the boat is documented, you pay an "in-lieu" fee instead of sales tax.

https://dor.mo.gov/motorv/fees.php#watercraft

For a boat of this price I would only pay $1400 in taxes, as opposed to the nearly $5000 in sales taxes.

Okay, got it. It is a state issue. The only thing that is waived here if you go the USCG route is the requirement to register the boat . The ROI does work out on that, but nowhere close to the amounts you would see in MO.

 

[Bruce]

@Marc Haycook, you edit the thread title by clicking on “Thread Tools” then “Edit Thread”.

I am not aware of anyone registering a Yamaha with the Coast Guard instead of their state.

 

[Julian]

I had to look up what "documented" meant! LOL What I found says:

Pleasure vessels of 5 net tons and over (26 feet in length and up) may be documented
​

Which makes a Yamaha 2.5 tons short and 2 feet short of the minimum to be legally documented.....so I doubt anyone has gotten past those shortcomings.

 

[seanmclean]

The 5 net tons thing is a little dubious. I just did some back of the napkin math using the calculator, and came out to 5.4.

 

[the MfM]

I had to look up what "documented" meant! LOL What I found says:

Pleasure vessels of 5 net tons and over (26 feet in length and up) may be documented
​

Which makes a Yamaha 2.5 tons short and 2 feet short of the minimum to be legally documented.....so I doubt anyone has gotten past those shortcomings.

Swim platform and ballast.

 

[Gray]

There is a process for informal documentation.

 

[tdonoughue]

They are referring to different tonnage. See https://www.dco.uscg.mil/Portals/9/DCO Documents/Marine Safety Center/Tonnage/Brochure_Documentation_and_Tonnage.pdf?ver=2017-06-09-130322-740 for the brochure and https://www.dco.uscg.mil/Our-Organization/Assistant-Commandant-for-Prevention-Policy-CG-5P/Commercial-Regulations-standards-CG-5PS/Marine-Safety-Center-MSC/Tonnage-Division/Tonnage-Form/ to download the form to do the simplified tonnage calculation.

 

[Gray]

The application for Simplified Measurement is what I was referring to regarding the less formal approach. I would like to see someone plug in a 242's numbers to see how it comes out.