Hello. I'm a NJ resident and purchased a boat last July in MD. It's a documented boat so I couldn't register it in NJ until the new CG documentation came through which wasn't until Late Oct. at end of boating season. So long story short...I haven't registered it or payed NJ sales tax yet...was going to wait until spring.
Does anyone know if this will be an issue? Does the sales tax have to be payed in the year the boat was purchased? Does a NJ "Use tax" apply? (hope not!).
Any CPA's or tax experts out there familiar with NJ with input would be greatly appreciated!
Does anyone know if this will be an issue? Does the sales tax have to be payed in the year the boat was purchased? Does a NJ "Use tax" apply? (hope not!).
Any CPA's or tax experts out there familiar with NJ with input would be greatly appreciated!