How are taxes calculated on a brokered watercraft sale?
The sale of watercraft, outboard motors and parts thereof made by boat dealers and/or brokers are deemed to be sales subject to the sales or use tax regardless of who holds title to such watercraft, outboard motors or parts prior to the sale. Tax Commissioner Rule 5703-9-40, dated Feb. 24, 1965, reads as follows: “Persons engaged in the business of selling tangible personal property who are authorized, engaged or employed to sell tangible personal property belonging to another are the vendors of such tangible personal property and shall be responsible for the proper collection and remittance of the sales tax with respect to such sales. “Persons engaged in the business of selling tangible personal property shall include persons who hold themselves out to the public as conducting a business regardless of whether the merchandise sold is owned by them or by other persons who have authorized, engaged or employed them to sell tangible personal property.” Therefore, persons who represent them
The sale of watercraft, outboard motors and parts thereof made by boat dealers and/or brokers are deemed to be sales subject to the sales or use tax regardless of who holds title to such watercraft, outboard motors or parts prior to the sale. Tax Commissioner Rule 5703-9-40, dated Feb. 24, 1965, reads as follows: “Persons engaged in the business of selling tangible personal property who are authorized, engaged or employed to sell tangible personal property belonging to another are the vendors of such tangible personal property and shall be responsible for the proper collection and remittance of the sales tax with respect to such sales. “Persons engaged in the business of selling tangible personal property shall include persons who hold themselves out to the public as conducting a business regardless of whether the merchandise sold is owned by them or by other persons who have authorized, engaged or employed them to sell tangible personal property.” Therefore, persons who represent them
